Defining And Estimating Underground And Informal Economies: The New Institional Economics Approach
AbstractA taxonomy of underground economies is elaborated based on the new institutional approach to economic development. Members of formal sectors confront different sets of transformation and transaction costs than do members of informal sectors and these differences are regarded as crucial to the development process. The paper distinguishes illegal, unreported, unrecorded and informal economies and examines the conceptual and empirical linkages among them. Alternative micro and macro methodologies for measuring underground activities are reviewed and evaluated including census and survey procedures, discrepancies and monetary methods. To be published in World Development, Vol 18, No 7, 1990.
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Bibliographic InfoPaper provided by EconWPA in its series Development and Comp Systems with number 0312003.
Length: 29 pages
Date of creation: 11 Dec 2003
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Underground; unrecorded; unreported; informal; illegal; unobserved; hidden; shadow economy; transaction costs; monetary methods.;
Other versions of this item:
- Feige, Edgar L., 1990. "Defining and estimating underground and informal economies: The new institutional economics approach," World Development, Elsevier, Elsevier, vol. 18(7), pages 989-1002, July.
- O17 - Economic Development, Technological Change, and Growth - - Economic Development - - - Formal and Informal Sectors; Shadow Economy; Institutional Arrangements
- H26 - Public Economics - - Taxation, Subsidies, and Revenue - - - Tax Evasion
- H2 - Public Economics - - Taxation, Subsidies, and Revenue
- K42 - Law and Economics - - Legal Procedure, the Legal System, and Illegal Behavior - - - Illegal Behavior and the Enforcement of Law
- D72 - Microeconomics - - Analysis of Collective Decision-Making - - - Political Processes: Rent-seeking, Lobbying, Elections, Legislatures, and Voting Behavior
- H3 - Public Economics - - Fiscal Policies and Behavior of Economic Agents
This paper has been announced in the following NEP Reports:
- NEP-ALL-2003-12-14 (All new papers)
- NEP-LAW-2003-12-14 (Law & Economics)
- NEP-PBE-2003-12-14 (Public Economics)
- NEP-TRA-2003-12-14 (Transition Economics)
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Portes, Alejandro & Blitzer, Silvia & Curtis, John, 1986. "The urban informal sector in Uruguay: Its internal structure, characteristics, and effects," World Development, Elsevier, Elsevier, vol. 14(6), pages 727-741, June.
- Edgar L. Feige & Robert T. McGee, 2005. "Policy Illusion, Macroeconomic Instability And The Unrecorded Economy," Macroeconomics, EconWPA 0501027, EconWPA.
- Peattie, Lisa, 1987. "An idea in good currency and how it grew: The informal sector," World Development, Elsevier, Elsevier, vol. 15(7), pages 851-860, July.
- Chadeau, Ann, 1985. "Measuring Household Activities: Some International Comparisons," Review of Income and Wealth, International Association for Research in Income and Wealth, International Association for Research in Income and Wealth, vol. 31(3), pages 237-53, September.
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