O17 - Formal and Informal Sectors; Shadow Economy; Institutional ArrangementsNávrat zpět

The paper deals with the problems of estimating the size of the gray economy in the Czech Republic. As a contribution is made own measurements estimate the gray economy in the Czech Republic and using Gutmann model, but with a significant change as a result of criticism of this method the authors Paldo and Hanousek. To estimate the size of the underground economy, there are countless methods, each of which is based on several assumptions and in response to these facts are subsequently subjected to criticism from professional circles. The realization of this project paper was necessary to analyze the development of the banking sector, which has been included in this article make it possible subsequently to identify and discuss the shortcomings of this method in the basic interpretation. In the conclusion, the results of other methods of processed individual authors used to measure estimate the shadow economy.

This paper examines the impact of fiscal policy on economic growth depending on the institutional conditions in the OECD countries over the time period 2000-2012. The analysis is based on the methods and tests of panel regression. From the analysis results it is evident that in the case of government spending there is (1) positive impact on economic growth in the countries with lower fiscal transparency; (2) negative impact in countries with higher fiscal transparency. In less developed countries there is higher proportion of pro-growth spending within total government spending. On the other hand in more developed countries the Wagner law becomes valid with the existence of welfare costs. In the case of taxation impact on economic growth it is visible that (3) the negative impact of taxation is more harmful for economic growth in the countries with worse institutional conditions. The explanation of this result can be linked to different fiscal transparency and different economic level.