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The study of the shadow economy in modern conditions: Theory, methodology, practice

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  • Bashlakova, Volga
  • Bashlakov, Henadzi

Abstract

Despite the fact that economic science offers many methodological approaches to the study of the shadow economy, the development of information infrastructure in conjunction with the globalization of economic relations have created a fundamentally new situation in which traditional research methods do not allow to obtain the result with the necessary accuracy and efficiency. The article proposes the author’s method of calculating the GDP adjustment taking into account the shadow economy, at which the indicators of shadow GDP of China and Russia for 2011–2017 were calculated and an attempted was made to interpret the results.

Suggested Citation

  • Bashlakova, Volga & Bashlakov, Henadzi, 2021. "The study of the shadow economy in modern conditions: Theory, methodology, practice," The Quarterly Review of Economics and Finance, Elsevier, vol. 81(C), pages 468-480.
    • Handle: RePEc:eee:quaeco:v:81:y:2021:i:c:p:468-480
    DOI: 10.1016/j.qref.2020.10.032
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    Cited by:

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    2. Roberto Dell'Anno, 2022. "Theories and definitions of the informal economy: A survey," Journal of Economic Surveys, Wiley Blackwell, vol. 36(5), pages 1610-1643, December.
    3. Mimica R. Milošević & Miloš M. Nikolić & Dušan M. Milošević & Violeta Dimić, 2022. "Managing Resources Based on Influential Indicators for Sustainable Economic Development: A Case Study in Serbia," Sustainability, MDPI, vol. 14(8), pages 1-20, April.

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    More about this item

    Keywords

    The shadow economy; Real GDP; Shadow import; Shadow production; Shadow export; The interaction of the shadow and legal economy;
    All these keywords.

    JEL classification:

    • E26 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Informal Economy; Underground Economy
    • E01 - Macroeconomics and Monetary Economics - - General - - - Measurement and Data on National Income and Product Accounts and Wealth; Environmental Accounts

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