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The Effect of Transparency Policies on Shadow Economy: Measurement and Evidence from Korea

Author

Listed:
  • Seokjin Woo

    (Department of Economics, Myongji University, South Korea)

  • Ki Beom Binh
  • Myung-Ho Park

Abstract

This paper provides a new and simple methodology to examine the relative size of the shadow economy to the official one using the quantity theory of money identity. We measure the shadow economy size in Korea annually. The Korean government has implemented various transparency policy measures to identify the tax source in commercial transactions. We find significant evidence that credit card encouragement and the cash payment receipt system have a negative effect on the shadow economy size. JEL Classification: H25, H26, E26.

Suggested Citation

  • Seokjin Woo & Ki Beom Binh & Myung-Ho Park, 2018. "The Effect of Transparency Policies on Shadow Economy: Measurement and Evidence from Korea," Journal of Reviews on Global Economics, Lifescience Global, vol. 7, pages 337-344.
    • Handle: RePEc:lif:jrgelg:v:7:y:2018:p:337-344
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    Citations

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    Cited by:

    1. Bogdan Amzuica & Roxana Adriana Mititelu, 2023. "The underground economy: an exploration of components, size, causes and effects," Technium Social Sciences Journal, Technium Science, vol. 45(1), pages 168-182, July.

    More about this item

    Keywords

    Shadow economy; transparency policy; credit card; cash payment receipt; quantity theory of money identity.;
    All these keywords.

    JEL classification:

    • H25 - Public Economics - - Taxation, Subsidies, and Revenue - - - Business Taxes and Subsidies
    • H26 - Public Economics - - Taxation, Subsidies, and Revenue - - - Tax Evasion and Avoidance
    • E26 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Informal Economy; Underground Economy

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