Shadow Economy Role in Merchants Behaviour at Retail Payment Market

Student: Mirzaianova Mariam

Supervisor: Egor Krivosheya

Faculty: International College of Economics and Finance

Educational Programme: Double degree programme in Economics of the NRU HSE and the University of London (Bachelor)

Final Grade: 10

Year of Graduation: 2019

This research focuses on the influence of shadow economy volume on the probability of acceptance of cashless payment methods in Russian regions. The work tests the significance of shadow economy indexes using logit model. Four main approaches were used for estimation of underground economy index: the discrepancy between national expenditure and income statistics approach, Currency Demand approach (CDA), MIMIC approach, and Principal Component Analysis approach. The result obtained appeared to be significant at 5% and 10% significance levels and tells that with the increase in shadow economy volume, the probability of acceptance of non-cash payment methods decreases. The results of research are significant both statistically and economically.

Full text (added June 13, 2019)

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