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The study of the shadow economy in modern conditions: Theory, methodology, practice

Volga Bashlakova and Henadzi Bashlakov

The Quarterly Review of Economics and Finance, 2021, vol. 81, issue C, 468-480

Abstract: Despite the fact that economic science offers many methodological approaches to the study of the shadow economy, the development of information infrastructure in conjunction with the globalization of economic relations have created a fundamentally new situation in which traditional research methods do not allow to obtain the result with the necessary accuracy and efficiency. The article proposes the author’s method of calculating the GDP adjustment taking into account the shadow economy, at which the indicators of shadow GDP of China and Russia for 2011–2017 were calculated and an attempted was made to interpret the results.

Keywords: The shadow economy; Real GDP; Shadow import; Shadow production; Shadow export; The interaction of the shadow and legal economy (search for similar items in EconPapers)
JEL-codes: E01 E26 (search for similar items in EconPapers)
Date: 2021
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DOI: 10.1016/j.qref.2020.10.032

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