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The non-observed economy and economic growth: A meta-analysis

Oscar Afonso, Pedro Cunha Neves and Tiago Pinto

Economic Systems, 2020, vol. 44, issue 1

Abstract: Academics, politicians, the public in general and researchers have great interest in the non-observed economy. However, there is divergence in its definition, accounting methodology and economic effects. In this paper we conduct a meta-analysis on the empirical literature that estimates the impact of the parallel economy on economic growth. We conclude that there is no publication bias and that the average effect of the parallel economy on economic growth is insignificant. However, the reported effects differ considerably with the type and number of countries included in the sample of primary studies, the structure of the data, the methodology used to measure the parallel economy, the number of citations of primary studies, and the year they were published.

Keywords: Economic growth; Parallel economy; Non-observed economy; Meta-analysis; Publication bias (search for similar items in EconPapers)
JEL-codes: C83 O10 O17 O40 (search for similar items in EconPapers)
Date: 2020
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DOI: 10.1016/j.ecosys.2020.100746

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