A Factorial Analysis of the Shadow Economy of the EU Member States.
Journal Title: Бізнес Інформ - Year 2016, Vol 4, Issue
Abstract
The article considers essence of shadow economy together with milestones in the studying this phenomenon. To identify the main factors influencing changes to the levels of the shadow economy coefficient (SE, in % of GDP) in the software environment of the product STATISTICA, a factorial analysis of the dependence of SE from 29 indicators for the EU Member States for the period of 2005-2014 has been conducted. The findings indicate, as for the dependent variable «shadow economy», a dense feedback with a number of factors considered, in particular with the human development index, the rule of law, the global innovation index, GNI per capita and GDP per capita. In addition, a number of factors are closely interlinked, which gives grounds to conclude the presence of multicollinearity. To allocate the factors that have a significant impact on the value of the shadow economy coefficient as to the EU Member States, the method of principal components was applied. As result of the conducted analysis, two key factors has been allocated and a factorial model of dependence on the selected factors has been built.
Authors and Affiliations
Olga Kovalchuk, Nataliia Strelbitska, Roksolana Sorokivska
Keywords
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