Determinants of shadow economy in OIC and non-OIC countries: the role of financial development

Abstract
Purpose The purpose of this paper is to empirically investigate the determinants and the impact of financial development on shadow economy in OIC countries and then compared with non-OIC countries. Design/methodology/approach The study applies advanced panel GMM technique. Findings The study finds that macro-variables (unemployment, economic growth, money supply and foreign trade) and institutional variables reduce shadow economy both in OIC and...
Paper Details
Title
Determinants of shadow economy in OIC and non-OIC countries: the role of financial development
Published Date
Oct 29, 2021
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