References
- Abela, G., Gauci, T. M., & Rapa, N. (2021). An analysis of the shadow economy in Malta: A currency demand and MIMIC model approach. International Journal of Economics and Financial Issues, 12(1), 41-50. https://doi.org/10.32479/ijefi.1154810.32479/ijefi.11548
- Ahumada, H., Alvaredo, F., & Canavese, A. (2007). The monetary method and the size of the shadow economy: A critical assessment. Review of Income and Wealth, 53(2), 363-371. https://doi.org/10.1111/j.1475-4991.2007.00234.x10.1111/j.1475-4991.2007.00234.x
- Awad, I. M., & Alazzeh, W. (2020). Using currency demand to estimate the Palestine underground economy: An econometric analysis. Palgrave Communications, 6(1), 1-11. https://doi.org/10.1057/s41599-020-0433-410.1057/s41599-020-0433-4
- Bouriche, L., & Bennihi, A. S. (2020). Estimating the informal economy in Algeria from 1980 to 2019: Currency Demand Approach. Strategy and Development Review, 10(4), 471-490. https://search.emarefa.net/detail/BIM-995841
- BusinessTech. (2021). 3 top emigration destinations for South Africans – and how to get there. Lyttelton: Author. Retrieved from https://businesstech.co.za/news/wealth/498481/3-key-emigration-destinations-for-south-africans-and-how-to-get-there/
- Cagan, P. (1958). The demand for currency relative to the total money supply. Journal of Political Economy, 66, 302-328. https://doi.org/10.1086/25805610.1086/258056
- Chelin, R., & Nyoni, R. (2020). Cheap and readily available illicit cigarettes are a lucrative source of income for organised criminals. Pretoria – Addis Ababa – Dakar: Institute for Security Studies. Retrieved from https://issafrica.org/iss-today/no-smoke-without-fire-south-africas-illicit-cigarette-trade
- CrunchEconometrix. (2018, May 30). (Stata13): VECM estimation, discussion and diagnostics #var #vecm #causality #granger #wald [Video]. Youtube. https://www.youtube.com/watch?v=syP7JiUkMng
- Dahalan, J. B., & Al-Gamal, A. A. M. (2017). Currency demand approach and underground economy in Qatar. Proceedings of the 7th Annual International Conference (AIC) Syiah Kuala University and the 6th International Conference on Multidisciplinary Research (ICMR) in conjunction with the International Conference on Electrical Engineering and Informatics (ICELTICs) 2017, October 18-20, 2017, Banda Aceh, Indonesia. http://jurnal.unsyiah.ac.id/AICS-Social/article/view/10148/8614
- Dell’Anno, R. (2003). Estimating the shadow economy in Italy: A structural equation approach (Working Paper, No. 2003-07). Aarhus: Department of Economics, University of Aarhus. Retrieved from https://repec.econ.au.dk/repec/afn/wp/03/wp03_07.pdf
- Dell’Anno, R., Gómez-Antonio, M., & Pardo, A. (2007). The shadow economy in three Mediterranean countries: France, Spain and Greece. A mimic approach. Empirical Economics, 33(1), 51-84. https://doi.org/10.1007/s00181-006-0084-310.1007/s00181-006-0084-3
- Dybka, P., Kowalczuk, M., Olesiński, B., Torój, A., & Rozkrut, M. (2018). Currency demand and MIMIC models: Towards a structured hybrid method of measuring the shadow economy. International Tax Public Finance, 26(1), 4-40. https://doi.org/10.1007/s10797-018-9504-510.1007/s10797-018-9504-5
- Frey, B., & Weck-Hannemann, H. (1984). The hidden economy as an ‘unobserved’ variable. European Economic Review, 26(1-2), 33-53. https://doi.org/10.1016/0014-2921(84)90020-510.1016/0014-2921(84)90020-5
- Gauci, T. M., & Rapa, N. (2020). An analysis of the shadow economy in Malta: A currency demand and MIMIC model approach. Quarterly Review, 3. Retrieved from https://www.centralbankmalta.org/file.aspx?f=92924
- Giles, D. E. A. (1999). Measuring the hidden economy: Implications for econometric modelling. Economic Journal, 109(456), 370-380. https://doi.org/10.1111/1468-0297.0044010.1111/1468-0297.00440
- Gonçalves, P. (2019, November 10). South Africa among 10 most heavily taxed countries in the world. Washington, DC: International Monetary Fund. Retrieved from https://www.internationalinvestment.net/news/4002970/south-africa-heavily-taxed-countries-world-imf
- Hall, A. (2021, November 10). Underground economy. Chicago: Encyclopaedia Britannica. Retrieved from https://britannica.com/topic/underground-economy
- Hassan, M., & Schneider, F. (2016). Modelling the Egyptian shadow economy: A mimic model and a currency demand approach. Journal of Economics and Political Economy, 3(2), 310-339. Retrieved from http://www.kspjournals.org/index.php/JEPE/article/download/788/85910.2139/ssrn.2743153
- Hill, R., & Kabir, M. (1996). Tax rates, the tax mix, and the growth of the underground economy in Canada: What can we infer? Canadian Tax Journal, 44(6), 1552-1583.
- Hill, R. C., Griffiths, W. E., & Lim, G. C. (2018). Principles of econometrics (5th ed.). Hoboken, NJ: John Wiley & Sons.
- IMF. (2021). Interest rates selected indicators. [Data set]. Washington, D.C.: Author. https://data.imf.org/regular.aspx?key=61545855
- IOL. (2021). Tax burden a barrier to SA’s economic growth. https://www.iol.co.za/business-report/opinion/tax-burden-a-barrier-to-sas-economic-growth-529cff95-78d2-456d-a390-07df3b719b3e
- Kaufmann, D., & Kaliberda, A. (1996). Integrating the unofficial economy into the dynamics of post-socialist economies: A framework of analysis and evidence (Policy Research Working Paper, No. WPS 1691). Washington, DC: World Bank Group. https://doi.org/10.1596/1813-9450-169110.1596/1813-9450-1691
- Lackó, M. (2000). Hidden economy – an unknown quantity? Comparative analysis of hidden economies in transition economies. Economics of Transition, 8(1), 117-149. https://doi.org/10.1111/1468-0351.0003810.1111/1468-0351.00038
- Liedtke, S. (2020, November 10). South Africa losing R250m a day because of illicit trade – BLSA. Retrieved from https://m.engineeringnews.co.za/article/south-africa-losing-r250m-a-day-because-of-illicit-trade-blsa-2020-03-10/rep_id:4433
- Luckhoff, P. (2021, November 08). Taxes going up in smoke – 3 out of 4 retail outlets sell illicit cigarettes. Retrieved from https://www.capetalk.co.za/articles/410810/study-shows-3-out-of-4-retail-outlets-in-sa-sell-illicit-cigarettes
- Makananisa, M. P., Koloane, C. T., & Schneider, F. (2020). Modelling the shadow economy of South Africa: Using the currency demand and MIMIC approach. Journal of Economics and Political Economy, 7(1), 01-46.
- Manzoor, Z., Shabbir, G., & Syed, S. H. (2018). The measurement of Pakistan’s black economy: A modified currency demand approach. Pakistan Economic and Social Review, 56(2), 211-229. https://www.jstor.org/stable/26842685
- Medina, L., & Schneider, F. (2018). Shadow economies around the world: What did we learn over the last 20 years? (Working Paper, No. 18/17). Washington, DC: IMF. Retrieved from https://www.imf.org/-/media/Files/Publications/WP/2018/wp1817.ashx
- Medina, L., & Schneider, F. (2019). Shedding light on the shadow economy: A global database and the interaction with the official one (Working Paper, No. 7981). Munich: CESifo. Retrieved from https://ideas.repec.org/p/ces/ceswps/_7981.html
- Nchor, D., & Konderla, T. (2016). The underground economy of Czech Republic and tax evasion: The currency demand approach. Procedia Social and Behavioral Sciences, 220, 294-301. https://doi.org/10.1016/j.sbspro.2016.05.50210.1016/j.sbspro.2016.05.502
- Neves, J. (2021, November 05). SA has ‘biggest, most brazen cigarette black market in the world, says TJSA. Retrieved from https://www.biznews.com/thought-leaders/2021/01/20/cigarette-trade-tjsa
- OECD. (2017). Shining light on the shadow economy: Opportunities and threats. Paris: Author. Retrieved from https://www.oecd.org/ctp/crime/shining-light-on-the-shadow-economy-opportunities-and-threats.htm
- Pickhardt, M., & Pons, J. S. (2006). Size and scope of the underground economy in Germany. Applied Economics, 38(14), 1707-1713. https://doi.org/10.1080/0003684050042686810.1080/00036840500426868
- Raut, N. K., Chalise, N., & Thapa, P. (2014). Measurement of the underground economy in Nepal: A currency demand approach. Economic Journal of Development, 17&18(1-2), 105-127. https://doi.org/10.3126/ejdi.v17i1-2.1452310.3126/ejdi.v17i1-2.14523
- SARB. (2020, November 07). Monetary policy. Retrieved from https://www.resbank.co.za/en/home/what-we-do/monetary-policy
- SARB. (2021). Online statistical query. [Data set]. SARB. https://www.resbank.co.za/en/home/what-we-do/statistics/releases/online-statistical-query
- Schneider, F. (2005). Shadow economies around the world: What do we really know? European Journal of Political Economy, 21(3), 598-642. Retrieved from https://ideas.repec.org/a/eee/poleco/v21y2005i3p598-642.html
- Schneider, F., & Buehn, A. (2016). Estimating the size of the shadow economy: Methods, problems and open questions (Discussion Paper, No. 9820). Bonn: IZA. Retrieved from https://ftp.iza.org/dp9820.pdf
- Schneider, F., & Enste, D. H. (2002). The Shadow economy. An international survey. Cambridge: Cambridge University Press.
- Sharapenko, D. (2006). Estimation of the shadow economy in Russia [Masters of Arts dissertation, Central European University, Department of Economics, Budapest, Hungary]. CEU Campus Repository. http://www.etd.ceu.hu/2009/sharapenko_denis.pdf
- Small Business Institute. (2021, March 30). The number of formal micro, small & medium businesses in South Africa. Retrieved from https://www.smallbusinessinstitute.co.za/wp-content/uploads/2018/10/SBIbaselineAlert1final.pdf
- Stats SA. (2013, July). What is GDP and its impact? Pretoria: Statistics South Africa. Retrieved from http://www.statssa.gov.za/?p=1143
- Stats SA. (2022). P0441 – Gross Domestic Product (GDP), 4th Quarter 2021. [Data set]. Pretoria: Statistics South Africa. Retrieved from http://www.statssa.gov.za/?page_id=1854&PPN=P0441
- Tanzi, V. (1980). The underground economy in the United States: Estimates and implications. Banca Nazionale del Lavoro, 135, 427-453.
- Tanzi, V. (1983). The underground economy in the United States: Annual estimates, 1930-1980. International Monetary Fund Staff Papers, 30, 283-305. Retrieved from https://www.elibrary.imf.org/view/journals/024/1983/002/article-A002-en.xml
- World Bank. (2020). Deposit interest rate (%) – South Africa. [Data set]. https://data.worldbank.org/indicator/FR.INR.DPST?locations=ZA
- World Bank. (2021a). GDP growth (annual %) – South Africa. [Data set]. https://data.worldbank.org/indicator/NY.GDP.MKTP.KD.ZG?locations=ZA
- World Bank. (2021b). South Africa economic update: South Africa’s labor market can benefit from young entrepreneurs, self-employment. Retrieved from https://www.worldbank.org/en/country/southafrica/publication/south-africa-economic-update-south-africa-s-labor-market-can-benefit-from-young-entrepreneurs-self-employment