Browsing by Author "Toker, Serkan"

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    Master Thesis
    Estimating Size of Shadow Economy Through Cda: the Case of Turkey
    (Kadir Has Üniversitesi, 2017) Toker, Serkan; Davutyan, Nurhan
    This paper estimates the size of the shadow economy for the 26 NUTS-2 regions of Turkey. it is the first research that attempts at the NUTS-2 level for Turkey in the literature. The estimation used yearly data covering 2011-2014 and applies the modified currency demand approach by Ardizzi et al. (2014) with several updates. The size of the shadow economy is found as between 6.23% and 7.09% of official GDP of Turkey for the years 2011 to 2014. Results are just an indication of its base value. Because we do not have available data of cash in circulation for each NUTS-2 area we assume cash flow in circulation is approximately equal to demand deposit flow. However when the movements of the monetary aggregates variable at the country level are examined they demonstrate the similar trend. Thus this paper also present reliable distribution of the shadow economy among 26 Turkish areas. Results indicate that shadow economy has an upward trend over these specified years and the size of it in metropolitan areas like istanbul Ankara and izmir is bigger than in other areas. Also the magnitude of it is decreasing when moving from the western areas to the eastern areas of Turkey.