Conceptual Bases to Define Shadow Economy

ksana alentynivna ezhyvenko, National University of Kyiv-Mohyla Academy

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The article presents theoretical bases to define shadow economy. The importance is stressed to study and tackle this challenge in transition countries and in Ukraine particularly. It is emphasized that a substantial size of shadow economy affects the official economy by causing corruption and, being a feature of a survival economy, hinders long-term growth perspective on a country level. The definitions of the 'shadow economy', 'non-observed economy' and 'underground economy' are provided based on the System of National Accounts and the principles of the Organization for Economic Cooperation and Development.


shadow economy; non-observed economy; transition countries; Ukraine


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, . (2016). Conceptual Bases to Define Shadow Economy. Scientific Papers NaUKMA. Economics, 172, 69-73.

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. Conceptual Bases to Define Shadow Economy // Scientific Papers NaUKMA. Economics. - 2016. - Vol. 172. - P. 69-73.



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