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Defining And Estimating Underground And Informal Economies: The New Institional Economics Approach

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Author Info
Edgar L. Feige (University of Wisconsin-Madison)

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Abstract

A 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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Paper provided by EconWPA in its series Development and Comp Systems with number 0312003.

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Length: 29 pages
Date of creation: 11 Dec 2003
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Handle: RePEc:wpa:wuwpdc:0312003

Note: Type of Document - pdf; prepared on WinXP; pages: 29; figures: None
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Keywords: Underground; unrecorded; unreported; informal; illegal; unobserved; hidden; shadow economy; transaction costs; monetary methods.;

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Find related papers by JEL classification:
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 - - - Models of Political Processes: Rent-seeking, Elections, Legislatures, and Voting Behavior
H3 - Public Economics - - Fiscal Policies and Behavior of Economic Agents

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References listed on IDEAS
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.:
  1. Portes, Alejandro & Blitzer, Silvia & Curtis, John, 1986. "The urban informal sector in Uruguay: Its internal structure, characteristics, and effects," World Development, Elsevier, vol. 14(6), pages 727-741, June. [Downloadable!] (restricted)
  2. Edgar L. Feige & Robert T. McGee, 2005. "Policy Illusion, Macroeconomic Instability And The Unrecorded Economy," Macroeconomics 0501027, EconWPA. [Downloadable!]
  3. North, Douglass C, 1991. "Institutions," Journal of Economic Perspectives, American Economic Association, vol. 5(1), pages 97-112, Winter. [Downloadable!] (restricted)
  4. Peattie, Lisa, 1987. "An idea in good currency and how it grew: The informal sector," World Development, Elsevier, vol. 15(7), pages 851-860, July. [Downloadable!] (restricted)
  5. Chadeau, Ann, 1985. "Measuring Household Activities: Some International Comparisons," Review of Income and Wealth, Blackwell Publishing, vol. 31(3), pages 237-53, September.
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Cited by:
(explanations, 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.)

  1. Saracoglu, Durdane Sirin, 2003. "On The Size And The Evolution Of The Informal Sector In Developing Countries: The Case Of Turkey," 2003 Annual meeting, July 27-30, Montreal, Canada 22211, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association). [Downloadable!]
  2. Hussain, M. Haider & Ahmed, Qazi Masood, 2006. "Estimating the Black Economy through Monetary Approach: A Case Study of Pakistan," MPRA Paper 8153, University Library of Munich, Germany. [Downloadable!]
  3. Edgar Feige & James Dean, 2002. "Dollarization and Euroization in Transition Countries: Currency Substitution, Asset Substitution, Network Externalities and Irreversibility," International Finance 0205003, EconWPA. [Downloadable!]
  4. Daniel Mejía & Carlos Esteban Posada, 2007. "Informalidad: teoría e implicaciones de política," BORRADORES DE ECONOMIA 004024, BANCO DE LA REPÚBLICA. [Downloadable!]
    Other versions:
  5. Theis Theisen, 2005. "Tanzanian formal sector workers' participation in informal production," Applied Economics, Taylor and Francis Journals, vol. 37(21), pages 2469-2485, December. [Downloadable!] (restricted)
  6. Marcella Mulino, 2002. "On the determinants of capital flight from Russia," Atlantic Economic Journal, International Atlantic Economic Society, vol. 30(2), pages 148-169, June. [Downloadable!] (restricted)
  7. Carlos Arango A. & Martha Misas & Enrique López, . "Economía Subterránea en Colombia 1976-2003: Una medición a partir de la Demanda de Efectivo," Borradores de Economia 335, Banco de la Republica de Colombia. [Downloadable!]
    Other versions:
  8. Edgar L. Feige & Ivica Urban, . "Measuring Underground (Unobserved, Non-Observed, Unrecorded) Economies in Transition Countries: Can We Trust GDP?," William Davidson Institute Working Papers Series wp913, William Davidson Institute at the University of Michigan Stephen M. Ross Business School. [Downloadable!]
    Other versions:
  9. Timothy Michael Lewis & Roger Hosein, 2006. "An estimation of the size of the hidden labour force in construction in Trinidad and Tobago," Construction Management & Economics, Taylor and Francis Journals, vol. 24(8), pages 805-815, August. [Downloadable!] (restricted)
  10. Edgar L. Feige, 2003. "Underground Activity And Institutional Change: Productive, Protective And Predatory Behavior In Transition Economies," Development and Comp Systems 0305001, EconWPA. [Downloadable!]
  11. Stanisław Cichocki, 2008. "Shadow economy and its relations with tax system and state budget in Poland 1995 - 2007," Working Papers 2008-05, Faculty of Economic Sciences, University of Warsaw. [Downloadable!]
  12. A. E. Jackle & C. A. Li, 2003. "Firm Dynamics and Institutional Participation: A Case Study on Informality of Micro-Enterprises in Peru," Economics Discussion Papers 552, University of Essex, Department of Economics. [Downloadable!]
    Other versions:
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