Izvorni znanstveni članak
https://doi.org/10.1080/1331677X.2018.1498010
Corruption and shadow economy in transition economies of European Union countries: a panel cointegration and causality analysis
Yilmaz Bayar
; Faculty of Economics and Administrative Sciences, Usak University, Usak, Turkey
Hakki Odabas
; Faculty of Political Sciences, Ankara Yıldırım Beyazıt University, Ankara, Turkey
Mahmut Unsal Sasmaz
; Faculty of Economics and Administrative Sciences, Usak University, Usak, Turkey
Omer Faruk Ozturk
; Faculty of Economics and Administrative Sciences, Usak University, Usak, Turkey
Sažetak
Corruption and shadow economy are two critical problems which
feed each other and pose an obstacle against the economic
development of countries, especially those with weak fundamentals. Central and Eastern European countries have experienced an
absolute political and economic transformation after the downfall
of the Berlin Wall. This study researches the effect of corruption
and rule of law on shadow economy in 11 transition economies
of Central and Eastern Europe over the 2003–2015 term with
panel cointegration and causality tests considering heterogeneity
and cross-sectional dependence. The cointegration coefficients
revealed a complementary interplay between size of shadow
economy and corruption. Furthermore, the causality analysis indicated that there was a bilateral causality between control of corruption and shadow economy in all the cross-section units.
However, there was a two-way causality between rule of law and
shadow economy only in Bulgaria, Czech Republic, Poland and
Romania. Furthermore, there was one-way causality from rule of
law to shadow economy in Croatia, Estonia, Hungary, Slovakia
and Slovenia.
Ključne riječi
Corruption; rule of law; shadow economy; panel data analysis
Hrčak ID:
217021
URI
Datum izdavanja:
3.12.2018.
Posjeta: 1.604 *