Subject. This article explores the forms of the shadow economy. Objectives. The article aims to identify conceptual differences between approaches to defining the shadow economy notion. Methods. For the study, we used logical, comparative, and content analyses. Results. The article finds that the concept of the shadow economy includes both illegal activities, which contradict the spirit and letter of the law, and legal activities, through using illegal tools and methods to maximize profits or minimize costs. Conclusions. Social, legal, and economic factors determine the development of the shadow economy. Whether money comes back to the legal economy sector or not, it depends on the form of the shadow economy. To define the essence of the shadow economy, a comprehensive approach is required.
Keywords: informal economy, economic relations, economic systems
References:
Yap W.W., Sarmidi T., Shaari A.H., Said F.F. Income Inequality and Shadow Economy: A Nonparametric and Semiparametric Analysis. Journal of Economic Studies, 2018, vol. 45, iss. 1, pp. 2–13. URL: Link
Lykov A.A. [Legal nature of the shadow economy and ways of fighting it]. Problemy ekonomiki i yuridicheskoi praktiki = Economic Problems and Legal Practice, 2018, no. 2, pp. 191–195. URL: Link (In Russ.)
Menshikov A.S. [Methods for assessing the quantitative component of the shadow economy in the Russian Federation]. Tenevaya ekonomika = Shadow Economy, 2020, vol. 4, iss. 3, pp. 111–126. (In Russ.) URL: Link
Ukhanov V.V. [Approaches to the definition of the concept and nature of shadow economy and analysis of its magnitude]. Rossiiskoe predprinimatel'stvo = Russian Journal of Entrepreneurship, 2017, vol. 18, iss. 22, pp. 3405–3418. (In Russ.) URL: Link
Burov V.Yu. [Shadow economic activity of business entities as a factor in the development of economic crime]. Tenevaya ekonomika = Shadow Economy, 2019, vol. 3, iss. 2, pp. 87–96. (In Russ.) URL: Link
Williams C.C., Horodnic I.A. Beyond the Marginalization Thesis: Evaluating the Participation of the Formally Employed in the Shadow Economy in the European Union. Journal of Economic Studies, 2016, vol. 43, iss. 3, pp. 400–417. URL: Link
Getmanova S.O., Logvinovа I.V. [The shadow economy and its impact on economic security]. Aktual'nye issledovaniya, 2020, no. 2, pp. 40–44. URL: Link (In Russ.)
Stratulat V.G. [Potential of institutional analysis and regulation of the shadow economy]. Rossiiskoe predprinimatel'stvo = Russian Journal of Entrepreneurship, 2010, vol. 11, iss. 7, pp. 14–18. URL: Link (In Russ.)
Alfer’ev D.A., Rodionov D.G. [Modeling scenarios of dynamics of indicators of development of IT-industry by means of elementary mathematical functions]. Ekonomika. Informatika = Economics. Information Technologies, 2020, vol. 47, iss. 4, pp. 729–746. (In Russ.) URL: Link
Skhvediani A.E. [Basic premises of classical linear regression and the consequences of their violations]. Innovatsii i investitsii = Innovation & Investment, 2020, no. 8, pp. 38–42. URL: Link (In Russ.)
Rodionov D.G., Yalymov S.V., Konnikov E.A. [A model of institutional environment of small and medium-sized businesses]. Ekonomicheskie nauki = Economic Sciences, 2020, no. 190, pp. 138–146. (In Russ.) URL: Link
Dmitriev N.D., Rodionov D.G., Kubarskiy A.V. [Building econometric tools for assessing the investment attractiveness of the region]. Kant, 2020, no. 4, pp. 70–77. (In Russ.) URL: Link
Serrano-Cinca C., Cuéllar-Fernández B., Fuertes-Callén Y. Firm and Country Characteristics Related to Cumulative Contribution to Society. Sustainability Accounting, Management and Policy Journal, 2021, vol. 12, iss. 1, pp. 184–219. URL: Link
Chen M., Zhang S. Measuring the Regional Non-observed Economy in China with Nighttime Lights. International Journal of Emerging Markets, 2021, vol. 16, iss. 4, pp. 837–864. URL: Link
Krivorotov V.V., Kalina A.V., Podbereznaya M.A. [Evaluation of the prevalence of the shadow economy at the regional level]. Vestnik UrFU. Seriya: Ekonomika i upravlenie = Bulletin of Ural Federal University. Series: Economics and Management, 2019, vol. 18, iss. 4, pp. 540–555. URL: Link (In Russ.)
Lomsadze D.G. [Conceptual problems of the scientific methodology approaches in the study of the shadow economy phenomenon]. Tenevaya ekonomika = Shadow Economy, 2020, vol. 4, iss. 1, pp. 11–22. (In Russ.) URL: Link
Vousinas G.L. Shadow Economy and Tax Evasion: The Achilles Heel of Greek Economy. Determinants, Effects and Policy Proposals. Journal of Money Laundering Control, 2017, vol. 20, iss. 4, pp. 386–404. URL: Link
Mróz B. Shadow Economy in a Turbulent Environment: Evidence from Poland. Journal of Money Laundering Control, 2018, vol. 21, iss. 3, pp. 328–339. URL: Link
Hendriyetty N., Grewal B.S. Macroeconomics of Money Laundering: Effects and Measurements. Journal of Financial Crime, 2017, vol. 24, iss. 1, pp. 65–81. URL: Link
Dobovšek B., Slak B. Economic Crisis and "White Informal Economy" – A Slippery Slope. International Journal of Sociology and Social Policy, 2017, vol. 37, iss. 7/8, pp. 468–476. URL: Link
Srivastava H.S., Singh G., Mishra A. Factors Affecting Consumers’ Participation in Consumption Tax Evasion. Journal of Indian Business Research, 2018, vol. 10, iss. 3, pp. 274–290. URL: Link
Cassel D. The Growing Shadow Economy: Implications for Stabilization Policy. Intereconomics, 1984, vol. 19, iss. 5, pp. 219–225. URL: Link
Buchanan J.M. The Collected Works of James M. Buchanan. Vol. 3. The Calculus of Consent. Logical Foundations of Constitutional Democracy. Indianapolis, Liberty Fund, 1999, 361 p.
Schumpeter J. On the Concept of Social Value. The Quarterly Journal of Economics, 1909, vol. 23, iss. 2, pp. 213–232. URL: Link
Barber W.J. Asian Drama: An Inquiry into the Poverty of Nations (1968). In: Gunnar Myrdal. Great Thinkers in Economics Series. London, Palgrave Macmillan, 2008, pp. 121–152. URL: Link
Scott J.C. The Moral Economy of the Peasant: Rebellion and Subsistence in Southeast Asia. New Haven, Yale University Press, 1976, 246 p.
