The present paper investigates the link between the shadow economy and FDI using the Granger panel causality test. For that purpose we use the shadow economy and FDI data for 145 countries of five data points 1999/2000, 2001/2002, 2002/2003, 2003/2004 and 2004/2005. The system GMM estimation...

The review of recent literature shows the relationship between shadow economy and economic growth is ambiguous. This paper attempts to answer whether the relationship between shadow economy and economic growth depends on the level of development or not? In this way, the Shadow Economy...

This study attempts to investigate the relationship between shadow economy and poverty by explaining the mechanism through which shadow economy affects poverty via its impact on government size and economic growth, and using the human poverty index (HPI) for developing and developed countries....

One of the important implications of financial liberalization is the reduction of liquidity constraints. The ability of households to borrow and adjust their financial portfolios has important implications for monetary aggregates and consequently, for the conduct of monetary policy. It is to be...

One of the important implications of financial liberalization is the reduction of liquidity constraints. The ability of households to borrow and adjust their financial portfolios has important implications for monetary aggregates and consequently, for the conduct of monetary policy. It is to be...

This paper looks at bound test approach for cointegration analysis, to verify the stability of Singaporean real Gross Domestic Product (GDP), to construct the Monetary Conditions Index (MCI) over the quarterly period 1981:1-2004:4. The bounds test confirms a long-run equilibrium relationship...

This paper presents the empirical evidence on the long-run neutrality (LRN) of money in the stock market in Malaysia, using seasonal adjusted monthly data from 1978:1 to 1999:12 , based on the bivariate ARIMA framework developed by Fisher and Seater (1993). Besides the main stock index, the...