Overburdensome regulation can generate shadow activities, says IMF paper

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Businesses faced with onerous regulation and weak and inconsistent rule of law have an incentive to hide their activities in the underground economy, according to an International Monetary Fund paper, published on February 9.

Anoop Singh, Sonali Jain-Chandra and Adil Mohommad, the paper's authors, analyse the determinants of the underground economy, with particular emphasis on the role of institutions and the rule of law. The authors note that worldwide protests against the perceived lack of

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