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Date: November 22, 2024 Fri
Time: 11:32 am
Time: 11:32 am
Results for illicit work
1 results foundAuthor: Enste, Dominik H. Title: The shadow economy in industrial countries: Reducing the size of the shadow economy requires reducing its attractiveness while improving official institutions Summary: The shadow (underground) economy plays a major role in many countries. People evade taxes and regulations by working in the shadow economy or by employing people illegally. On the one hand, this unregulated economic activity can result in reduced tax revenue and public goods and services, lower tax morale and less tax compliance, higher control costs, and lower economic growth rates. But on the other hand, the shadow economy can be a powerful force for advancing institutional change and can boost the overall production of goods and services in the economy. The shadow economy has implications that extend beyond the economy to the political order. The shadow economy should not be seen as solely an economic problem, to be resolved by attacking the symptoms through higher fines and tougher controls. A country-specific analysis of causes and consequences is necessary in order to develop policy measures appropriate to the country's level of development. Policymakers should view illicit work as a signal of the need to decrease the attractiveness of the shadow economy through better regulation, a fair and transparent tax system, and more efficient institutions (good governance). Organized crime and illegal employment should nevertheless be fought through stricter controls and enforcement. Details: Bonn: IZA World of Labor, 2015. 10p. Source: Internet Resource: Accessed April 24, 2015 at: http://wol.iza.org/articles/shadow-economy-in-industrial-countries-1.pdf Year: 2015 Country: International URL: http://wol.iza.org/articles/shadow-economy-in-industrial-countries-1.pdf Shelf Number: 135386 Keywords: Financial CrimeIllicit WorkOrganized CrimeShadow EconomyTax EvasionUnderground Economy |