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The shadow economy in Colombia: size and effects on economic growth

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Author Info
Friedrich Schneider () (Department of Economics, Johannes Kepler University Linz, Austria)
Bettina Hametner ()

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Abstract

Using the currency demand approach size and development of the Colombian shadow economy are estimated over the period from 1976 to 2002. In the 70s the size fluctuated around 20% of official GDP and rose to 50% in the 90s. The most important factors driving the shadow economy are unemployment and taxation. Analyzing the interaction between shadow and official economy, the shadow economy has a positive effect on the official one. Average growth rate of real per capita GDP is 1.11% between 1976 and 2002 and the shadow economy "explains" on average between 0.09 and 0.27 of this growth.

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Publisher Info
Paper provided by Department of Economics, Johannes Kepler University Linz, Austria in its series Economics working papers with number 2007-03.

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Date of creation: Jan 2007
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Handle: RePEc:jku:econwp:2007_03

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Related research
Keywords: Colombian shadow economy; currency demand method; taxation; unemployment; interaction between the shadow and official economy;

Find related papers by JEL classification:
O17 - Economic Development, Technological Change, and Growth - - Economic Development - - - Formal and Informal Sectors; Shadow Economy; Institutional Arrangements
O5 - Economic Development, Technological Change, and Growth - - Economywide Country Studies
D78 - Microeconomics - - Analysis of Collective Decision-Making - - - Positive Analysis of Policy-Making and Implementation
H2 - Public Economics - - Taxation, Subsidies, and Revenue
H11 - Public Economics - - Structure and Scope of Government - - - Structure and Scope of Government
H26 - Public Economics - - Taxation, Subsidies, and Revenue - - - Tax Evasion

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  1. José Brambila Macias & Guido Cazzavillan, 2008. "Modelling the Informal Economy in Mexico. A Structural Equation Approach," Working Papers 2008_41, University of Venice "Ca' Foscari", Department of Economics. [Downloadable!]
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