The Underground Economy: An Overview and Estimates for Cyprus
The paper begins by describing three important macroeconomic approaches to the measurement of the underground economy. Estimates of the size of the underground economy in Cyprus are then discussed. The estimates are derived using a method first applied by Tanzi to data for the United States. Using annual times series data for the period 1960-1990 the size of the underground economy in Cyprus is estimated to be, approximately, between 3% and 10% of GNP.
|Date of creation:||Dec 1994|
|Date of revision:|
|Publication status:||Published in The Cyprus Journal of Economics, Vol 7, No 2, 1994|
|Contact details of provider:|| Web page: http://www.centralbank.gov.cy/nqcontent.cfm?a_id=1|
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