A large percentage of workers and firms operate in the informal economy, outside the line of
sight of governments in emerging market and develo** economies. This may hold back …

This paper examines the dynamic relationship between financial development and the
shadow economy using data for 161 countries over the period 1960–2009. Specifically, we …

A large literature has documented an inverse relationship between financial development
and the size of the informal economy, with some evidence that the link is non‐monotonic …

This paper aims to present a comprehensive survey of the literature on the economics of
informality. First, we focus on studies that aim to provide measures of informality using …

This paper analyzes the interactions between government's indebtedness, sovereign default
risk and the size of the informal sector. We test an underlying theory that suggests that in …

This article aims at investigating the impact of natural resources revenues, the shadow
economy on the financial institutions' depth. Besides, it also examines the moderating role of …

Purpose The purpose of this paper is to empirically investigate the determinants and the
impact of financial development on shadow economy in OIC countries and then compared …

In this paper we empirically explore the impact of the presence of informal economies on
long-run economic growth. Using a novel panel dataset of 161 countries over the period …

This paper provides fresh evidence concerning the threshold relationship between the
shadow economy and financial development. Shadow economy is quoted as an obstacle to …

This study conducts an empirical investigation about the moderating role of the informal
economy on Turkey's environmental performance by employing advanced econometric …