Size and Determinants of the Shadow Economy in Greece, 1980–2020

Vasileia Vougiatzi (), Sophia Delipalla, Harry Papapanagos and Antonis Tsitouras
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Vasileia Vougiatzi: University of Macedonia
Sophia Delipalla: University of Macedonia
Harry Papapanagos: University of Macedonia
Antonis Tsitouras: University of Western Macedonia

Chapter Chapter 6 in Advances in Applied Macroeconomics, 2025, pp 87-101 from Springer

Abstract: Abstract The average size of the shadow economy in Greece, 1980–2020, is estimated at 28.5% of gross domestic product, with an average annual rate of decline 0.41%. The finding of a negative relationship between unemployment and the shadow economy, combined with the significant and positive effects of self-employment and social insurance contributions, shows that the underground economy, in Greece, is driven primarily by people at work and not in unemployment. The official and unofficial sectors of the economy are complements. The political system is also of particular importance as a determinant of the size of the shadow economy, mainly capturing institutional and social aspects.

Keywords: Shadow economy; Informal economy; MIMIC; Greece (search for similar items in EconPapers)
JEL-codes: E26 (search for similar items in EconPapers)
Date: 2025
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Persistent link: https://EconPapers.repec.org/RePEc:spr:prbchp:978-3-031-76658-9_6

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DOI: 10.1007/978-3-031-76658-9_6

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