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Mitigating shadow economy through dual banking sector development in Malaysia


Citation

Habibullah, Muzafar Shah and Baharom, Abdul Hamid and Din, Badariah and Furuoka, Fumitaka (2017) Mitigating shadow economy through dual banking sector development in Malaysia. In: Islamic Economies: Stability, Markets and Endowments. Palgrave CIBFR Studies in Islamic Finance . Palgrave Macmillan, Cham, Switzerland, 41 - 62. ISBN 9783319479361

Abstract / Synopsis

Theory argues that as long as the shadow economy is of sufficient size, the leakage or loss of tax revenue through tax evasion will also be substantial. In this chapter, we provide new estimates of the size of the shadow economy in Malaysia for the period 1971–2013. Further, we relate the shadow economy to its determinants as measured by the misery index. This chapter reveals that the relationship between the shadow economy and financial development in Malaysia exhibits an inverted U-shaped curve. The chapter concludes that the Malaysian government should embark on programs that can reduce the size of the shadow economy, relying on its dual banking system of Islamic and conventional banks.


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Additional Metadata

Item Type: Book Section
Divisions: Faculty of Economics and Management
DOI Number: https://doi.org/10.1007/978-3-319-47937-8_4
Publisher: Palgrave Macmillan
Keywords: Shadow economy; Islamic banking; Malaysia
Depositing User: Mas Norain Hashim
Date Deposited: 20 Jul 2018 17:19
Last Modified: 20 Jul 2018 17:19
Altmetrics: http://www.altmetric.com/details.php?domain=psasir.upm.edu.my&doi=10.1007/978-3-319-47937-8_4
URI: http://psasir.upm.edu.my/id/eprint/63787
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