Front Matter Page
Institute for Capacity Development
Contents
ABSTRACT
I. INTRODUCTION
II. LITERATURE REVIEW
III. METHODOLOGY AND DATA
3.1 Empirical methodology
3.2 Data
IV. EMPIRICAL RESULTS
4.1 Findings of the benchmark model
4.2 Further investigation of non-linear relationship
4.3 Robustness check
4.3.1 Robustness check by controlling for tax burden and for country groups
4.3.2 Robustness check with 10-year averages
4.3.3 Robustness check with 5-year averages
4.3.4 Robustness check by controlling for the four oil-exporting countries
4.4 More Discussions on Labor Market and Policy Implications
V. CONCLUSION
REFERENCES
APPENDIX
FIGURES
Figure 1: Nonlinear relationship between the shadow economy and GDP per capita
Figure 2: Nonlinear relationship between the shadow economy and GDP per capita in 2010 US$
TABLES
Table 1: Nonlinearity between the shadow economy and GDP per capita: average of 1996–2015
Table 2: Long-run determinants of GDP per capita: average of 1996–2015
Table 3: Robustness check I
Table 4: Robustness check II
Table 5: Robustness check III
Table 6: Robustness check IV: panel regression
Table 7: Robustness check V: panel regression with one-period lags
Table 8: Robustness check VI: panel regression with two-period lags
Table 9: Robustness check VII: the average of 1996–2015
Table 10: Robustness check VIII: the average of 1996–2015
APPENDIX TABLES
Table Al: Country names and ISOs
Table A2: Table of correlations of variables for 1996–2015
Table A3: Summary statistics of variables for 1996–2015 “
Table A4: Analytical categorization of the global economy