Published June 23, 2020 | Version 1
Journal article Open

Current state and trends of the shadow sector of the economy

Creators

Description

Current trends in economic development of most countries highlight the need to improve existing tools for their economic growth and sustainable development. An important aspect in this direction is the implementation of the policy of de-shadowing of the economy. The article analyzes the current world trends in the functioning of the shadow economy, identifies the most common schemes of shadow capital withdrawal and approaches to their classification. The systematization of the existing methodical approaches to the assessment of the level of shadowing of the economy is carried out, their advantages and disadvantages are determined. The expediency of developing a unified approach to estimating the volume of shadow financial flows, which is based on taking into account the multi-channel schemes of shadow capital outflow, is substantiated.

Files

47.pdf

Files (755.0 kB)

Name Size Download all
md5:23f3a20a3d76cc9e1c11ef2b94b4d85a
755.0 kB Preview Download

Additional details

References

  • 1. Emerging from the shadows: the shadow economy to 2025 (2017). The Association of Chartered Certified Accountants (ACCA). Glasgow, 2017. June. Retrieved from: https://www.accaglobal.com/sg/en/professional-insights/global-economics/Emerging-from-the-shadows.html.
  • 2. Hart, K. (1973). Informal urban income opportunities and urban employment in Ghana. Journal of Modern African studies, 11(1), 61-90.
  • 3. Feige, E.L. (1977). How Big is t he Irregular Economy? Challenge, 22(1), 5-13.
  • 4. Gutmann, Pierre M. (1977). The Subterranean Economy. Financial Analysts Journal, 34(1), 24-27.
  • 5. Dell'Anno, R., Gómez-Antonio, M., Pardo, A. (1977). The Shadow Economy in three Mediterranean countries: France, Spain and Greece. A MIMIC approach. Empirical Economics, 33, 51-84.
  • 6. Medina, L.; Schneider, F. (2018). Shadow Economies around the World: What Did We Learn over the Last 20 Years? African Department, IMF Working Papers 18/17. 2018.
  • 7. Remeikienė, R., Gasparėnienė, L., Chadyšas, V., Cepel, M. (2018). Identification of the shadow economy determinants for the Eurozone member states: application of the MIMIC model. Journal of Business Economic Management, 19(6), 777-796.
  • 8. Kaufmann, D., Kaliberda, A. (1966). Integrating the Unofficial Economy into the Dynamics of Post-Socialist Economies: A Framework of Analysis and Evidence. In B. Kaminski (ed.) Economic Transition in Russia and the New States of Eurasia. Armont, NY: M. E. Sharpe, Inc.
  • 9. Karanfil, F. & Ozkaya, A. (2007). Estimation of real GDP and unrecorded economy in Turkey based on environmental data. Energy Policy, 35(10), 4902-4908.
  • 10. Zahalni tendentsii tinovoi ekonomiky v Ukraini u 2019 rotsi [General trends of the shadow economy in Ukraine in 2019]. Retrieved from: https://www.me.gov.ua/Documents/List?lang=uk-UA&id=e384c5a7-6533-4ab6-b56f-50e5243eb15a&tag=TendentsiiTinovoiEkonomiki [in Ukrainian].
  • 11. Illicit Financial Flows Reports. Global Financial Integrity official web-site. Retrieved from: http://www.gfintegrity.org/reports/.
  • 12. Pro zatverdzhennia Metodychnykh rekomendatsii shchodo kompleksnoi otsinky obsiahiv neproduktyvnoho vidplyvu (vyvezennia) finansovykh resursiv za mezhi Ukrainy: Nakaz Ministerstva ekonomichnoho rozvytku i torhivli № 286 vid 24.03.2015 r. [On approval of Methodical recommendations for a comprehensive assessment of the volume of unproductive outflow (export) of financial resources outside Ukraine: Order of the Ministry of Economic Development and Trade № 286 of 24.03.2015] Retrieved from: http://www.me.gov.ua/Ascod/List?lang=uk-UA&id=d6a26174-d0fd-406b-9c30-7a4043f04eb5&tag=SistemaOblikuPublichnoiInformatsii&pageNumber=86&fCtx=inName &fSort=date&fSdir=asc. [in Ukrainian].
  • 13. Bondar S.V. (2011). Kharakterystyka sposobiv prykhovuvannia koshtiv, oderzhanykh zlochynnym shliakhom, za mezhamy Ukrainy [Characteristics of ways to conceal funds obtained by criminal means outside Ukraine]. Scientific Bulletin of the National Academy of Internal Affairs, 6, 19-25 [in Ukrainian].