This article evaluates the impact of trade liberalisation on the informal economy in the BRICS countries, which have significant unorganised sectors and trade policy changes. The article uses panel data from 1996 to 2015 to measure informality based on the method of Kaufmann and Kaliberda, which estimates the size of the informal sector as the difference between official GDP an...

The economic expansion of the People's Republic of China is the most rapid continuous increase by a major economy in world history. China has become an economic giant, the world’s second-largest economy based on GDP and the largest based on purchasing power parity. This study identifies major historical events across millennia relevant to China’s continual economic development....

The shadow economy includes economic activities that are not recognized and unregulated by public authorities. These activities cause significant challenges for policymakers by reducing tax revenue and weakening regulatory frameworks. Understanding the factors that influence the shadow economy is crucial for developing effective policies to mitigate its adverse effects. This s...

The paper explores a variety of data analytics methods—such as Benford’s Law for detecting manipulation, Markov Switching Models for economic cycle analysis, time-series anomaly detection for data integrity, and volatility analysis for stability—to assess the quality of economic data. It highlights the use of advanced techniques like Bayesian inference and resampling (e.g., boo...

The International Property Rights Index (IPRI) is considered a credible source of information for the public and policymakers, focusing on its components’ impact on economic growth. The study analysed the GDP per capita of 13 EU countries over 13 years (2009–2021) to assess the significance of IPRI components on economic growth. The research utilized correlation and regression ...

The international system has shifted from unipolarity to multipolarity, with emerging powers like China, India, and the European Union gaining influence, reducing the dominance of Western-led institutions such as the World Bank and IMF, as evidenced by economic data like GDP growth and FDI trends. The study analyses this transition using Offensive Realism, which highlights powe...

The importance of reliable statistical data is even more urgent in the context of the coronavirus crisis, in terms of managing the risks for public health, restarting the world economy and addressing the long-term economic and social impact of the pandemic. Government lockdowns, social distancing and work from home restrictions, imposed to contain the spread of COVID-19, pose i...

The economic slow-down and COVID-19 pandemic have highlighted India’s extreme crisis inequality. India is an unequal country: 84% of household sector income declined in 2021, at the same time that the number of billionaires went up from 102 to 142. According to the World Inequality Report, the income of the top 10% of the population is 20 times that of the bottom 50% and this g...

Governments widely manipulate official economic and social data—but the public tends to disregard this fact. There is extensive empirical evidence that governments extensively manipulate official data. National statistical offices should be independent of their government to fight such manipulation, and alternative data producers should be supported. The public should be aware ...

Primary data reveals one new instance of hyperinflation occurring in the Lódz Ghetto in 1944. Two instances of hyperinflation in the Lódz Ghetto occurred during World War II; in March of 1942 and February of 1944, monthly inflation in the ghetto reached 232.42% and 321.16%, respectively. The 1944 episode of hyperinflation is the 67th episode in world history and the sixth insta...