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008 191010b ||||| |||| 00| 0 eng d
020 _a9789352872817
082 _a332.4954
_bCHA
100 _aChattopadhyay, Saumen
245 _aMacroeconomics of the black economy
_cby Saumen Chattopadhyay
260 _aHyderabad
_bOrient BlackSwan
_c2018.
300 _axx, 276 p. : ill, ; 23 cm.
500 _aIncludes bibliographical references and index
520 _an the clamour around the demonetisation of high-value Indian currency notes in 2016, a few questions were never asked: What is the black economy? Does it only include the illegal sector, i.e. drug trafficking and the like? How do we take into account illegal earnings from the legal sector, i.e. unreported or tax-evaded income? How do these illegal earnings contribute to consumption and therefore money circulation? Do black profits slow down money circulation or accelerate it? Macroeconomics of the Black Economy answers these questions and explains how we can factor in the entire gamut of illegalities when we study the economy as a whole. It looks at the concepts and measures of the black economy, its sources and mechanisms and its implications for development policy. Moving away from previous studies that examine corruption and tax evasion only from a microeconomic perspective, this book analyses the implications of these measures for the macro-economy as a whole. The book begins with a detailed study of early attempts at modelling the black economy. the author then incorporates black incomes into this model of estimation and studies its impact on the government expenditure multiplier. Following this, he studies the implications of the black economy on external balance, by reformulating the balance of payment to study illegalities in exports and imports and illegal flight of capital through hawala and other channels in an open economy. the book ends with a detailed study of the Indian macro-economy in the light of these insights. This work applies not only to India but also to every developing economy around the world and will interest students of economics and development studies.
650 _aBlack market
650 _aEconomic conditions, 21st century
650 _aEconomic policy
650 _aEconomic history
650 _aTaxation
650 _aMonetary policy
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_cBK