Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/283678 
Year of Publication: 
2021
Citation: 
[Journal:] SPOUDAI - Journal of Economics and Business [ISSN:] 2241-424X [Volume:] 71 [Issue:] 3/4 [Year:] 2021 [Pages:] 23-47
Publisher: 
University of Piraeus, Piraeus
Abstract: 
Greek economy suffers from economic crisis for over a decade. A continuing problem has been the persistence of a large shadow economy which results in a gap between the tax and social security contribution owed and collected. In this paper, the size of shadow economy (SE) in Greece is estimated using a flexible MIMIC approach with time series data from 2000 to 2018. Our variables focused on instead of in most representative data of the Greek economy as causes (e.g. unemployment, self-employment, epidemic etc.) and indicators (official economy, energy consumption, income inequality and poverty, labour force participation). We found that the average size of shadow economy in Greece was up to 37.63% for the reference period, above the average size of other studies up to 23.35%. The study focuses on the significance of each determinant of the shadow economy, resulting in an improved estimation method to identify and tackle shadow transactions and increase public revenues.
Subjects: 
Greek economy
shadow economy
estimation
flexible MIMIC Model
JEL: 
O17
C20
D73
E26
Document Type: 
Article

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