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Shadow economy and economic development: a panel cointegration and causality analysis

Author

Listed:
  • Yuriy Bilan
  • Inna Tiutiunyk
  • Sergij Lyeonov
  • Tatiana Vasylieva

Abstract

The main objective of the research is to study the link between the indicators of GDP and shadow economy. In the article the forms of impact of the shadow economy have been analysed. Its main social, political and economic implications have been determined. The analysis results of the indicators of the average GDP growth rates in EU member states in 1960-2016, showed that the current level of economic growth in Ukraine is much lower compared to other countries. Based on the analysis of static indicators of the social and economic stability (standard deviation, coefficient of variation, maximum and minimum value), direct and feedback links between the levels of economy shadowing and GDP have been demonstrated. In this case, the results of Granger test confirm specific hypotheses and determine the vectors of their interaction at different time horizons.

Suggested Citation

  • Yuriy Bilan & Inna Tiutiunyk & Sergij Lyeonov & Tatiana Vasylieva, 2020. "Shadow economy and economic development: a panel cointegration and causality analysis," International Journal of Economic Policy in Emerging Economies, Inderscience Enterprises Ltd, vol. 13(2), pages 173-193.
    • Handle: RePEc:ids:ijepee:v:13:y:2020:i:2:p:173-193
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    Cited by:

    1. Radosław Miśkiewicz, 2020. "Efficiency of Electricity Production Technology from Post-Process Gas Heat: Ecological, Economic and Social Benefits," Energies, MDPI, vol. 13(22), pages 1-15, November.
    2. Maryna Brychko & Tetyana Vasilyeva & Zuzana Rowland & Serhiy Lyeonov, 2021. "Does the real estate market behavior predict the trust crisis in the financial sector? The case of the ECB and the Euro," Equilibrium. Quarterly Journal of Economics and Economic Policy, Institute of Economic Research, vol. 16(4), pages 711-740, December.

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