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Does taking the shadow economy into account matter when measuring aggregate efficiency?
[journal article]
Abstract We analyze how adding the shadow economy to official output figures affects estimated technical efficiency at the country level. We find that this only slightly affects the ranking of efficiency scores, but increases average efficiency in a sample of 87 to 97 countries, both developed and developing... view more
We analyze how adding the shadow economy to official output figures affects estimated technical efficiency at the country level. We find that this only slightly affects the ranking of efficiency scores, but increases average efficiency in a sample of 87 to 97 countries, both developed and developing. Our results are robust to the functional form of the production technology and the adjustment of labour to account for years of schooling.... view less
Classification
National Economy
Document language
English
Publication Year
2010
Page/Pages
p. 2303-2311
Journal
Applied Economics (2010)
DOI
https://doi.org/10.1080/00036840903166210
ISSN
1466-4283
Status
Postprint; peer reviewed
Licence
PEER Licence Agreement (applicable only to documents from PEER project)