The role of financial development on the underground economy in regards to Europe's 2020 strategy

被引：4
|
作者：
Imamoglu, Hatice [1 ]
机构：
[1] Cyprus West Univ, Dept Business Adm, Fac Econ Adm & Social Sci, Ismet Inonu Blvd 29,TRNC Mersin 10, TR-99450 Nicosia, Turkey
来源：
ECONOMIC SYSTEMS | 2021年 / 45卷 / 02期
关键词：
Financial sector development; Underground economy; European Union countries; Europe; 2020; strategy; SHADOW ECONOMY; INFORMAL SECTOR; SIZE; DETERMINANTS; SPAIN;
D O I：
10.1016/j.ecosys.2020.100768
中图分类号：
F [经济];
学科分类号：
02 ;
摘要：
This paper attempts to investigate the relationships between development in the financial sector and the size of the underground economy in European Union countries. Our aim is to investigate the role of financial sector development when it comes to the size of the underground economy, as well as how financial development aids in meeting the growth objectives of the 'Europe 2020 Strategy'. Panel data analysis will be conducted for the period 2004-2017 in order to examine the effects of financial sector development on the size of the underground economy. The main findings of this paper suggest that financial development has a significantly reducing effect on the size of the underground economy. In conclusion, development within the financial sector significantly lessens underground economic activity in the European Union. With further development of the financial sector, underground economies will not be an obstacle for the fulfilment of the cohesion and growth objectives of the Europe 2020 strategy.
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页数：8
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