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Drivers of shadow economy in transition countries during the post-crisis period: The results of structural model

Aleksandra Fedajev () and Milica Arsiæ
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Aleksandra Fedajev: University of Belgrade
Milica Arsiæ: University of Belgrade

A chapter in Proceedings of FIKUSZ '17, 2017, pp 20-34 from Óbuda University, Keleti Faculty of Business and Management

Abstract: During the recent years the problem of the shadow economy is becoming more prominent, especially in transition countries that are faced with the numerous structural imbalances inherited from central-planning period. The emergence of the global economic crisis emphasized the necessity of solving this problem, given that widespread shadow economy reduces the amount of available budget funds for the implementation of anti-crisis measures. Having that in mind, the aim of this paper is to assess the role of wealth or living standards, market openness, political environment and tax system in the emergence and development of the shadow economy in the European transition economies during the period 2009-2014, using PLS-SEM model. The conducted research enabled authors to suggest recommendations and guidelines that policymakers should include in their long-term strategy for fighting the shadow economy.

Keywords: shadow economy; transition countries; PLS-SEM model; global economic crisis; economic development (search for similar items in EconPapers)
Date: 2017
ISBN: 978-963-449-064-7
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