Using mass media to analyze the shadow economy

Authors

DOI:

https://doi.org/10.21638/11701/spbu05.2018.106

Abstract

The existing methods of researching the shadow economy do not always provide accurate results. This is especially true for the analysis of illegal foreign trade and the usage of renewable natural resources. In some cases, useful information can be obtained from mass media data. The abilities, gained with the development of technologies, allow to apply new objective methods of analysis to the object of study we are interested in. The most reasonable method seems to be quantitative analysis of “big data”, which means articles and notes related to the topic given. Quantitative analysis was performed on relevant keywords. In the research this method was applied to mass media data for the period from 1996 to 2016. The purpose was to find out the possibility to use the results received to measure the scale of shadow economy. Results of the quantitative analysis, which showed presence of a significant shadow economy scope, were verified by other key characteristics, also allowing to speak about the existence of shadow economy sector. Our results show that the illegal harvesting and export of Russian Pacific crab correlates closely with the frequency of selected key words in federal and regional mass media. This research shows the possibility of using mass media to measure the scale of shadow economic activity and to form evidence-based recommendations for eliminating its negative consequences.

Keywords:

unregistered activity, shadow economy, big data, illegal trade, illegal crab harvesting

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Author Biographies

Андрей Васильевич Белов, Fukui Prefectural University, Eiheiji, Matsuo-Кakenjojima, 4−1−1, Japan

Professor of Economics

Генриэтта Валентиновна Соболева, St. Petersburg State University, 7–9, Universitetskaya nab., St. Petersburg, 199034, Russian Federation

PhD in Economics, Associate Professor

References

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Translation of references in Russian into English

Agnello R. J. Investment Returns and Risk for Art: Evidence from Auctions of American Paintings. Eastern Economic Journal, 2002, vol. 28, iss. 4, pp. 443–463.

Ashenfelter O., Graddy K. Art Auctions. CEPS Working Paper. No. 203. 2010. 16 p. Available at: http://www.princeton.edu/ceps/workingpapers/203ashenfelter.pdf (accessed: 07.06.2016).

Ashenfelter O., Graddy K. Art Auctions: A Survey of Empirical Studies. National Bureau of Economic Research Working Paper № 8997. 2002.

Baumol W. J. Unnatural Value: or Art Investment as a Floating Crap Game. American Economic Review, 1986, vol. 76, no. 2, pp. 10–14.

Beggs A., Graddy K. Anchoring Effects: Evidence from Art Auctions. Economic Review, 2009, 99 (3), pp. 1027–1039.

Candela G., Figini P., Scorcu A. E. Price Indices for Artists — A Proposal. Journal of Cultural Economics, 2004, vol. 28, iss. 4, pp. 285–302.

Frey B. Art Markets and Economics: Introduction. Journal of Cultural Economics, 1997, no. 21, pp. 165–173.

Graddy K., Hamilton J., Pownall R. Repeat-Sales Indexes: Estimation without Assuming that Errors in Asset Returns Are Independently Distributed. Real Estate Economics, 2012, 40 (1), pp. 131–166.

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Вестник Санкт-Петербургского университета. Экономика, 2018, 34 (1)

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Published

2018-03-30

How to Cite

Белов, А. В., & Соболева, Г. В. (2018). Using mass media to analyze the shadow economy. St Petersburg University Journal of Economic Studies, 34(1), 113–133. https://doi.org/10.21638/11701/spbu05.2018.106

Issue

Vol. 34 No. 1 (2018)

Section

Economics of Industries and Sectors

License

Articles of the St Petersburg University Journal of Economic Studies are open access distributed under the terms of the License Agreement with Saint Petersburg State University, which permits to the authors unrestricted distribution and self-archiving free of charge.

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