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The Shadow Economy In Romania In The Period 2007-2022. Causes, Consequences, Challenges

Author

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  • MIHAILA, Nicoleta

    (Centre for Financial and Monetary Research “Victor Slavescu”, N.I.E.R., Romanian Academy, Bucharest, Romania)

Abstract

In 2022, the underground economy of Romania was over 29% of the GDP, which places our country in the first positions among the member states of the European Union, as it happened in the last two decades. It is well known that its reduction would mean a significant source brought to the state budget, which would implicitly determine the reduction of Romania's current budget deficit. In this sense, in this paper, we have in view the analysis of some of the causes/sources and implications of the underground economy, its evolution in the last 15 years, as well as the presentation of some measures (which, for the authorities, can become real challenges in their implementation) so that to reduce it. We use an empirical and descriptive methodology, by referring to statistical data and bibliographic references from national and international specialized literature.

Suggested Citation

  • MIHAILA, Nicoleta, 2023. "The Shadow Economy In Romania In The Period 2007-2022. Causes, Consequences, Challenges," Journal of Financial and Monetary Economics, Centre of Financial and Monetary Research "Victor Slavescu", vol. 11(1), pages 81-91, October.
    • Handle: RePEc:vls:rojfme:v:11:y:2023:i:1:p:81-91
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    More about this item

    Keywords

    tax evasion; tax legislation; tax revenues; taxes; tax administration;
    All these keywords.

    JEL classification:

    • E62 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - Fiscal Policy; Modern Monetary Theory
    • G38 - Financial Economics - - Corporate Finance and Governance - - - Government Policy and Regulation
    • H26 - Public Economics - - Taxation, Subsidies, and Revenue - - - Tax Evasion and Avoidance

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