A Study of Determinants of Shadow Economy in Korea Focusing on Tax Burden Sunju Kwon* * Professor, Department of Economics, Changwon National University Abstract Most studies of shadow economies have focused on cross-country comparisons. Very few have examined local variations in underground economic activity. This paper presents the first estimates of the shadow economy for 16 local areas over the period 2001-2013 in Korea. Results shows among local areas in 2013, Chungnam has the smallest shadow economy at 19.09% of GRDP; Busan, Daegu, Gangwon have the largest at 19.64% of GRDP. GRDP and consumer prices, self employment, local taxes, gift tax, and VAT affect negatively on local shadow economies. Service workers, irregular workers, establishments, income tax, employment tax, liquor tax affect positively on shadow economies.
A Study of Determinants of Shadow Economy in Korea Focusing on Tax Burden Sunju Kwon* * Professor, Department of Economics, Changwon National University Abstract Most studies of shadow economies have focused on cross-country comparisons. Very few have examined local variations in underground economic activity. This paper presents the first estimates of the shadow economy for 16 local areas over the period 2001-2013 in Korea. Results shows among local areas in 2013, Chungnam has the smallest shadow economy at 19.09% of GRDP; Busan, Daegu, Gangwon have the largest at 19.64% of GRDP. GRDP and consumer prices, self employment, local taxes, gift tax, and VAT affect negatively on local shadow economies. Service workers, irregular workers, establishments, income tax, employment tax, liquor tax affect positively on shadow economies.
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