Informal Economy at the European Territory: Evidence from Panel Threshold Fixed Effect Models

Abstract

This study investigates the determiners of informal economy at the European Territory. The impact of financial development, human capital, unemployment, inflation, and economic freedom is discussed with various fixed effect models. While the influence of unemployment on informal economy increases above a certain welfare, the influence of unemployment on informal economy decreases above a certain human capital level. Besides, it is detected that the influence of economic freedom on informal economy increases above a certain human capital threshold. Consequently, common policies are recommended to cope with informal economy in Europe, and the increment in financial development, human capital and economic freedom will be beneficial to reduce informal economy.

Keywords

• Informal
• Human Capital
• Economic Freedom
• Threshold Effect
• Panel

Avrupa Bölgesinde Kayıt-Dışı Ekonomi: Panel Sabit Etki Eşik Modellerinden Kanıtlar

Abstract

Bu çalışma Avrupa Bölgesinde kayıt dışı ekonominin belirleyicilerini incelemektedir. Finansal gelişme, beşerî sermaye, işsizlik, enflasyon ve ekonomik özgürlüklerin kayıt-dışı ekonomi üzerindeki etkisi çeşitli panel sabit etki modelleriyle tartışılmaktadır. Belirli bir refah düzeyi üzerinde işsizliğin kayıt-dışı ekonomi üzerinde etkisi artarken, belirli bir beşerî sermaye eşik düzeyinin üzerinde işsizliğin kayıt-dışı ekonomi üzerindeki etkisi azalmaktadır. Ayrıca, ekonomik özgürlüğün kayıt-dışı ekonomi üzerindeki etkisinin belirli bir beşerî sermaye eşik düzeyinin üzerinde arttığı tespit edilmiştir. Sonuç olarak, Avrupa'da kayıt-dışı ekonomi ile baş edebilmek için ortak politikalar önerilmiş olup, kayıt dışı ekonomiyi azaltmada finansal gelişme, beşerî sermaye ve ekonomik özgürlüklerin artırılması faydalı olacaktır.

Keywords

• Kayıt-dışı
• Beşeri Sermaye
• Ekonomik Özgürlük
• Eşik Etkisi
• Panel

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