The Shadow Economy: Challenges to Economic and Social Policy

Mihail Arandarenko ()
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Mihail Arandarenko: University of Belgrade

Chapter Chapter 2 in Formalizing the Shadow Economy in Serbia, 2015, pp 5-12 from Springer

Abstract: Abstract This chapter provides a brief summary of the development of the shadow economy in Serbia, which serves as a reminder of the multi-faceted, heterogeneous, and simultaneously stubborn and deeply rooted nature of this phenomenon. Findings about the volume, structure, and features of informal employment are of great importance in designing economic and social policies aimed at tackling the shadow economy. In the early 1990s the shadow economy became an acceptable survival mechanism for businesses, entrepreneurs, and households, in answer to the multiple shocks that they faced. Today informal employment is also last refuge of those forced out of the formal economy during the transition and of traditionally excluded groups. Although current economic conditions are much more favourable than those that prevailed during the last decade of the twentieth century, government authorities and economic policymakers are yet to systematically tackle this issue.

Keywords: Informal Sector; Shadow Economy; Informal Economy; Labour Force Survey; Formal Economy (search for similar items in EconPapers)
Date: 2015
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Persistent link: https://EconPapers.repec.org/RePEc:spr:conchp:978-3-319-13437-6_2

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DOI: 10.1007/978-3-319-13437-6_2

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