scholarly journals Fredrich Schneider and Dominik H. Enste. The Shadow Economy—An International Survey. New Delhi / Thousand Oaks / London: Sage Publications. 2006. Paperback. Indian Rs 550.00.

2007 ◽  
Vol 46 (1) ◽  
pp. 99-101
Author(s):  
Sophia Ahmad
Keyword(s):  
Economic Policy ◽  
Social Security ◽  
Money Laundering ◽  
Shadow Economy ◽  
Underground Economy ◽  
Economic Crime ◽  
New Delhi ◽  
International Survey ◽  
Policy Makers

Social security fraud, economic crime, prostitution, money laundering, smuggling, and other illegal actions have one thing in common—they are all considered to be “shadow economy” activities. Such activities are increasing and require immediate attention from social and economic policy-makers and law-regulating authorities. Fredrich Schneider and Dominik H. Enste have made a commendable effort to highlight the causes, effects, and size of the underground economy in their new book.

scholarly journals Investigating if the Financial Markets Performance Affects the Shadow Economy: Additional Evidence From EU Countries

2021 ◽  
Vol 12 (5) ◽  
pp. 130
Author(s):  
Pyrros Papadimitriou ◽  
Thomas Poufinas ◽  
George Galanos ◽  
Charalampos Agiropoulos
Keyword(s):  
Financial Markets ◽  
Shadow Economy ◽  
Underground Economy ◽  
Legal Aspects ◽  
Extensive Literature ◽  
Policy Makers ◽  
Panel Data Regression ◽  
Inflation Rates ◽  
Advanced Economies ◽  
Data Regression

The shadow economy also known as the informal or unobserved or underground economy, is a phenomenon that affects not only emerging markets and developing countries but also advanced economies. In general, this undeclared economic activity is hard to measure given its hidden nature in addition to its relation with unlawful activities. Nevertheless, apart from the legal aspects that may appear, shadow economy has negative implications in terms of tax revenue and social security contributions for the nations. To this end, an extensive literature has explored the measurement issues as well as the root causes of this phenomenon proving that the underground economy constitutes a significant portion of the overall economy in a number of countries. This paper tries to investigate the relationship between the shadow economy and the financial markets. This paper employs a number of panel data regression models to detect the association between the financial market metrics and the shadow economy (as a% of GDP). The outcome of this paper is that it finds evidence that increased market capitalization, GDP per capita and FDI as well as low unemployment and inflation rates contribute to low levels of shadow economy. This can be of value to policy makers and the competent authorities of the countries that wish to find means to contain their shadow economy.

scholarly journals Economic and Financial Crimes and the Development of Society

2021 ◽  
Author(s):  
Monica Violeta Achim ◽  
Sorin Nicolae Borlea ◽  
Viorela Ligia Văidean ◽  
Decebal Remus Florescu ◽  
Eugenia Ramona Mara ◽  
...  
Keyword(s):  
European Union ◽  
Human Development ◽  
Money Laundering ◽  
Tax Evasion ◽  
Shadow Economy ◽  
Economic Crime ◽  
The European Union ◽  
Economic Prosperity ◽  
Financial Crimes ◽  
Negative Effect

The purpose of this chapter is to study the detailed dynamics of economic and financial crimes within the European Union member states, namely corruption, shadow economy, tax evasion, money laundering, cybercrime and financial frauds. Our econometric modelling focuses on the impact of the vector of financial and economic crime proxies upon economic prosperity and human development. In accordance to the reviewed literature, for our sample of European Union countries, corruption and shadow economy have a negative effect upon the vector of development proxies while money laundering and cybercrimes belonging to “white collars” are positively correlated with the vector of development proxies that we analyze. All the data are interpreted and discussed, and then conclusions are drawn. Governmental policies on economic prosperity and societal wellbeing should focus on reducing corruption and shadow economy, in order to favour benefits in the field of economic and human development.

Schattenwirtschaft und Schwarzarbeit – Eine wirtschafts- und gesellschaftspolitische Herausforderung

2001 ◽  
Vol 2 (2) ◽  
pp. 229-244 ◽  
Author(s):  
Dominik H. Enste
Keyword(s):  
Economic Policy ◽  
Social Security ◽  
Welfare State ◽  
Institutional Change ◽  
Shadow Economy ◽  
Tax System ◽  
Social Security Contributions ◽  
The Social ◽  
Exit Option ◽  
The Welfare State

Abstract The growing shadow economy in Germany is a challenge to the welfare state and economic policy. The burden of taxation and social security contributions combined with rising state regulatory activities are the main causes for the increase in the shadow economy. The consequences are ambivalent, since illicit work can increase welfare and boost institutional change but can also lead to a crisis of the welfare state. A substantial reform of the social security system and the tax system can reduce the incentives to use the `exit option’. In addition, the use of the `voiceoption’ must become more attractive.

Dirk J. Wolfson. Public Finance and development Strategy. Baltimore: The Johns Hopkins University Press. 1979. Pp. xiv+264.

1982 ◽  
Vol 21 (3) ◽  
pp. 255-257
Author(s):  
Zafar Mahmood
Keyword(s):  
Public Finance ◽  
Economic Policy ◽  
Public Administration ◽  
Development Strategy ◽  
Executive Branch ◽  
Policy Makers ◽  
Use Of Resources ◽  
Johns Hopkins University ◽  
The World ◽  
Economic Council

The world in its politico-economic aspects is run by policy-makers who have an academic background in law or public administration or other related social disciplines including economics. Only rarely would a majority of the policy-makers be trained in economics. In the making of economic policy, the basic choices before the policy-makers are political and they transcend the narrow concerns of economists regarding optimal use of resources. These considerations in no way downgrade the relevance of economic analysis in economic policy-making and for the training of policy-maker in economics. Policy-makers need economic council to understand fully the implications of alternative policy options. In this book, Wolfson attempts to educate policy-makers in the areas of public finance and development strategy. The analysis avoids technicalities and is kept to a simple level to make it understandable to civil servants, law-makers and members of the executive branch whom Wolfson refers to as policy-makers. Simplicity of analysis is not the only distinguishing mark of this book. Most other books on public finance are usually addressed to traditional public finance issues relating to both the revenue and expenditure sides of the budget and neglect an overall mix of issues dealing with the interaction of fiscal policy with economic development. Wolfson in this book explicitly deals with these issues.

scholarly journals Mental Illness in Primary Care Settings

1985 ◽  
Vol 9 (1) ◽  
pp. 12-13 ◽  
Author(s):  
Greg Wilkinson
Keyword(s):  
Primary Care ◽  
Mental Illness ◽  
General Practice ◽  
Social Security ◽  
General Practitioners ◽  
Research Unit ◽  
Practice Research ◽  
Policy Makers ◽  
Department Of Health ◽  
Primary Care Settings

A Conference on the above topic took place at the Institute of Psychiatry, London, on 17 and 18 July 1984. The Conference was sponsored by the Department of Health and Social Security and was organized by the General Practice Research Unit. Over 100 invited clinicians, research workers and policy-makers took part. The majority of the participants were either psychiatrists or general practitioners, but representatives of all relevant disciplines attended.

Come conciliare la solidarietŕ sociale e l'efficienza economica nell'era della globalizzazione: un punto di vista "regolazionista"

ARGOMENTI ◽  
2009 ◽  
pp. 5-29
Author(s):  
Robert Boyer
Keyword(s):  
Social Security ◽  
Historical Perspective ◽  
Social Protection ◽  
Policy Makers ◽  
Financial Compensation ◽  
Regulation Theory ◽  
Régulation Theory ◽  
Incentive Strategies ◽  
National Systems

- The policy makers who seek a model that guide its efforts to reform national systems of social protection are faced with many tests that support the need to move from traditional welfare based on financial compensation of risk to incentive strategies to avoid the risks, especially those related to unemployment. This article proposes concepts and methods related to the régulation theory and the issue of social security coverage through the consideration of the national systems of social protection in a comparative and historical perspective and analyzing the evolution of social protection in France in the light of models of welfare, workfare and flexicurityKeywords: welfare, organizations and institutional forms, solidarity and efficiency. Parole Chiave: sistemi nazionali di protezione sociale, organizzazioni e forme istituzionali, solidarietŕ ed efficienza.

The essential role of the investigation in fighting economic crime in Italy

2016 ◽  
Vol 23 (2) ◽  
pp. 465-480 ◽  
Author(s):  
Domitilla Vanni
Keyword(s):  
Money Laundering ◽  
Comparative Method ◽  
Economic Crime ◽  
European Convention ◽  
Right To Privacy ◽  
Content Type ◽  
Community Law ◽  
The Law ◽  
Financing Of Terrorism ◽  
The Right

Purpose This paper aims to analyse the evolution of European anti-money laundering discipline passing from the First Money Laundering Directive 91/308/EEC, that was only referred to banks and financial intermediaries, that has been furthermore extended to some activities and professions outside the financial sector. The research examines the different steps done buy Italian Legislation in the field of economic crime: at first Law n. 14/2003 of 3 February 2003 (Community Law 2002), they transposed the 2001 Directive 2001/97/EC and then the Law n. 56/2004 of 20 February 2004, that has implemented Directive 2001/97/EC. Now it is urgent to implement Directive 2005/60/EC that has extended the scope of the legislation, including the fight against the financing of terrorism and modified anti-money laundering obligations. Design/methodology/approach This paper deals with the Legislations of some European States (in particular UK and Italy) interpreting them by a comparative method. Findings This paper has put in clear some differences and some analogies between national legislations of different countries. Research limitations/implications In Italy, at first Law n. 14/2003 of 3 February 2003 (Community Law 2002), has transposed the 2001 Directive 2001/97/EC and then the Law n. 56/2004 of 20 February 2004, has implemented Directive 2001/97/EC. In 2005, Directive 2005/60/EC has extended the scope of the legislation, including the fight against the financing of terrorism and modified anti-money laundering obligations. Practical implications In the context of economic crime, capital investigations represent one of the most effective tools to fight the activities of organized crime in the phase of managing wealth illicitly produced and its immission in the circuit of the legal economy. Social implications The need of fighting economic crime must always be harmonized with the protection of right to privacy that has been acknowledged by Article 8 of the European Convention of Human Rights of 1950 as a fundamental right. Originality/value This paper develops the need to balance the right to privacy of every European citizen (Article 8 CEDU) with investigative power exercised by Public or Private Authorities, considering the possibility to comprise the first – if necessary – to allow the regular exercise of the second.

Macroeconomics of money laundering: effects and measurements

2017 ◽  
Vol 24 (1) ◽  
pp. 65-81 ◽  
Author(s):  
Nella Hendriyetty ◽  
Bhajan S. Grewal
Keyword(s):  
Developing Countries ◽  
Money Laundering ◽  
Tax Evasion ◽  
Developed Countries ◽  
Tax Revenue ◽  
Negative Effects ◽  
Policy Makers ◽  
Content Type ◽  
Macroeconomic Conditions ◽  
Illicit Flows

Purpose The purpose of this paper is to review studies focusing on the magnitude of money laundering and their effects on a country’s economy. The relevant concepts are identified on the basis of discussions in the literature by prominent scholars and policy makers. There are three main objectives in this review: first, to discuss the effects of money laundering on a country’s macro-economy; second, to seek measurements from other scholars; and finally, to seek previous findings about the magnitude and the flows of money laundering. Design/methodology/approach In the first part, this paper outlines the effects of money laundering on macroeconomic conditions of a country, and then the second part reviews the literature that measures the magnitude of money laundering from an economic perspective. Findings Money laundering affects a country’s economy by increasing shadow economy and criminal activities, illicit flows and impeding tax collection. To minimise these negative effects, it is necessary to quantify the magnitude of money laundering relative to economic conditions to identify the most vulnerable aspects of money laundering in a country. Two approaches are used in this study: the first is the capital flight approach, as money laundering will cause flows of money between countries; the second is the economic approach for measuring money laundering through economic variables (e.g. tax revenue, underground economy and income generated by criminals) separately from tax evasion. Originality/value The paper offers new insights for the measurement of money laundering, especially for developing countries. Most methods in quantifying money laundering have focused on developed countries, which are less applicable to developing countries.

South Pacific transnational money laundering typologies

2017 ◽  
Vol 20 (4) ◽  
pp. 345-353 ◽  
Author(s):  
John Chelliah ◽  
Anita Prasad
Keyword(s):  
Money Laundering ◽  
Design Methodology ◽  
Academic Research ◽  
South Pacific ◽  
Pacific Island ◽  
Policy Makers ◽  
Content Type ◽  
Extant Literature ◽  
South Pacific Island ◽  
Pacific Island Nations

Purpose The paper aims to present typologies of transnational money laundering in South Pacific island countries, thereby filling a gap in the extant literature. Design/methodology/approach This paper is based on seven significant transnational money laundering cases involving South Pacific island nations. It provides analyses of the modus operandi of criminals and classifies those according to typologies from anti-money laundering authorities and bodies. Findings Typologies of money laundering have arrived through a content analysis of seven cases involving transnational money laundering destined for South Pacific island nations. The typologies which have emerged show the predominant forms of transnational money laundering in this region. This knowledge could be useful to government policy-makers and financial institutions pursuing anti-money laundering initiatives. Originality/value There is a dearth of academic research into typologies of transnational money laundering involving the South Pacific. This paper makes a useful contribution to the extant literature by providing the most recent typologies in this respect.

Impacts of psychological behaviors of managers on money laundering: evidence from Iran stock exchange

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Hadi Saeidi
Keyword(s):  
Money Laundering ◽  
Stock Exchange ◽  
Economic Crime ◽  
Statistical Population ◽  
Content Type ◽  
Manager Behavior ◽  
Performance Measurement Systems ◽  
Negative Impacts ◽  
Manager Performance ◽  
Managerial Overconfidence

Purpose This study aims to investigate the impacts of the psychological behaviors of managers, including entrenchment, myopia, narcissism and overconfidence, on money laundering at Iranian companies listed on the Tehran Stock Exchange. Design/methodology/approach The present study is descriptive-correlational in terms of methodology and applied research in terms of objectives. The statistical population consisted of all companies listed on the Tehran Stock Exchange during 2013–2019. A total of 150 companies were selected as samples via screening. Logistic regression was used to analyze the data and test the hypotheses in EViews v10. Findings The findings revealed that management entrenchment, managerial myopia, managerial narcissism and managerial overconfidence have significant impacts on money laundering. Originality/value This study pioneer investigating the impacts of psychological behaviors among managers on money laundering in Iran. As an economic crime, money laundering poses an adverse impact on economic growth in countries. The continuous monitoring of manager performance and the deployment of performance measurement systems could prevent the negative impacts of manager behavior on money laundering.

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