Abstract
The underground economy, black market, or “shadow” economy is considered a market consisting of all kinds of commerce, on which applicable taxes and/or regulations, and procedures of trade are being avoided. In modern societies, the underground economy covers a vast area of activities. It is generally smallest in countries where economic development and freedom are the greatest, and become progressively larger in areas where corruption, regulations imposed, or legal monopolies restrict legitimate economic activity.
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References
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Trifu, A. (2012). The Double-Way İnterrelationship Between the Shadow Economy and the Economic Growth (GDP Rate). In: Çaliyurt, K., Idowu, S. (eds) Emerging Fraud. Springer, Berlin, Heidelberg. https://doi.org/10.1007/978-3-642-20826-3_5
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DOI: https://doi.org/10.1007/978-3-642-20826-3_5
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Online ISBN: 978-3-642-20826-3
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