The shadow economy in three Mediterranean countries: France,Spain and Greece. A MIMIC approach |
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Authors: | Roberto Dell’Anno Miguel Gómez-Antonio Angel Alañon-Pardo |
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Institution: | 1.Dipartimento di Scienze Economiche e Statistiche,Università degli Studi di Salerno,Fisciano (Sa),Italy;2.Departamento de Economía Aplicada VI, Facultad de Ciencias Económicas y Empresariales,Universidad Complutense de Madrid,Pozuelo de Alarcón,Spain;3.Departamento de Economía Aplicada I, Facultad de Ciencias Económicas y Empresariales,Universidad Complutense de Madrid-Real Colegio Complutense at Harvard University,Pozuelo de Alarcón,Spain |
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Abstract: | This paper offers estimations of the evolution of the shadow economy in three Mediterranean countries, namely France, Spain
and Greece. A multiple indicators and multiple causes model based on the latent variable structural theory has been applied.
As established by Giles (Working paper on monitoring the health of the tax system, 1995), filtered data to solve the non-stationary
problems are used. The model includes the tax burden (both as a whole and disaggregated into direct taxes, indirect taxes
and social security contributions), a proxy of regulation burden, theu nemployment rate and self-employment as causes of the
shadow economy and the GDP growth rate, the labour force participation ratio and the currency ratio as indicators of the underground
economy. The results confirm that unemployment, the fiscal burden and self-employment are the main causes of the shadow economy
in these countries, and confirm that an inverse relationship exists between the official GDP growth rate and that of the unofficial
economy.
This paper has benefited from the comments and suggestions of the anonymous referees. The usual disclaimer applies. The paper
was partly written when third author was visiting Real Colegio Complutense at Harvard University. The hospitality of this
Institution is gratefully acknowledged. |
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Keywords: | Shadow economy Structural equation model |
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