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What is the relationship between Unofficial and Official Economy? An analysis in Latin American Countries

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  • Roberto Dell'Anno

Abstract

This paper analyzes the relationship between unofficial economy (UE) and official GDP. Through the study of the UE within an institutional comprehensive empirical framework, a positive correlation is found between unofficial and official GDP. Empirical evidence on the procyclicality of UE supports the conclusion that the two sectors are rather complements than substitutes for Latin American countries. Then UE is considered as beneficial to sustain economic growth. Suggestions for economic policy and hints for further research are also offered.

Suggested Citation

  • Roberto Dell'Anno, 2008. "What is the relationship between Unofficial and Official Economy? An analysis in Latin American Countries," Quaderni DSEMS 23-2008, Dipartimento di Scienze Economiche, Matematiche e Statistiche, Universita' di Foggia.
    • Handle: RePEc:ufg:qdsems:23-2008
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    File URL: http://www.economia.unifg.it/sites/sd01/files/allegatiparagrafo/29-11-2016/q232008.pdf
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    Citations

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    Cited by:

    1. Kose, M. Ayhan & Elgin, Ceyhun & Ohnsorge, Franziska & Yu, Shu, 2021. "Growing Apart or Moving Together? Synchronization of Informal and Formal Economy Cycles," CEPR Discussion Papers 16498, C.E.P.R. Discussion Papers.
    2. Buehn, Andreas & Dell'Anno, Roberto & Schneider, Friedrich, 2012. "Fiscal illusion and the shadow economy: Two sides of the same coin?," MPRA Paper 42531, University Library of Munich, Germany.
    3. Roberto Dell'Anno & Ferda Halicioglu, 2010. "An ARDL model of unrecorded and recorded economies in Turkey," Journal of Economic Studies, Emerald Group Publishing Limited, vol. 37(6), pages 627-646, November.
    4. Ceyhun Elgin & M. ayhan Köse & Franziska Ohnsorge & Shu Yu, 2021. "Growing Apart or Moving Together? Synchronization of Informal and Formal Economy Cycles Abstract:," Working Papers 2021/04, Bogazici University, Department of Economics.
    5. Dan Andrews & Aida Caldera Sánchez & Åsa Johansson, 2011. "Towards a Better Understanding of the Informal Economy," OECD Economics Department Working Papers 873, OECD Publishing.
    6. Pablo Duarte, 2017. "The relationship between GDP and the size of the informal economy: empirical evidence for Spain," Empirical Economics, Springer, vol. 52(4), pages 1409-1421, June.

    More about this item

    Keywords

    Unofficial economy; Economic Development; Latin America; Institutions.;
    All these keywords.

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