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https://doi.org/10.2478/bsrj-2018-0022

Energy Consumption as an Indicator of Hidden Economy: Comparative Analysis

Blagica Novkovska orcid id orcid.org/0000-0003-0103-6083 ; Faculty of Economics, University of Tourism and Management, Skopje, Republic of Macedonia
Ksenija Dumičić orcid id orcid.org/0000-0001-7131-9455 ; Department of Statistics, Faculty of Economics and Business, University of Zagreb, Zagreb, Croatia


Puni tekst: engleski pdf 364 Kb

str. 96-107

preuzimanja: 516

citiraj


Sažetak

Background: Hidden economy presents a major concern for all national economies, particularly for those of developing countries. Objectives: In this work, methods for determination of the size of hidden economy are discussed. Particular attention is devoted to the methods using electricity consumption as an indicator (the Lackó method and the Kaufmann and Kaliberda method). Methods/Approach: The modified Lackó method adapted for a single country and the sophisticated Kaufmann and Kaliberda method have been used. Results: It has been shown that such methods are effective in measurement of the hidden economy extent in small open economies exposed to severe external influences. The article presents results for Macedonia and their comparison with results for Croatia, as a good role-model for other states in Western Balkans. Conclusions: Model methods involving energy consumption are particularly efficient in determination of the size of the hidden economic sector in small open economies as those of the Western Balkan countries.

Ključne riječi

hidden economy; the DYMIMIC method; the Lackó method; the Kaufmann and Kaliberda method; currency demand method; energy consumption elasticity

Hrčak ID:

203485

URI

https://hrcak.srce.hr/203485

Datum izdavanja:

11.7.2018.

Posjeta: 1.012 *