Using various statistical procedures, estimates about the size of the shadow economy in 110 developing, transition and OECD countries are presented. The average size of the shadow economy (in percent of official GDP) over 1999-2000 in developing countries is 41%, in transition countries 38% and...

The purpose of this study is to analyze the underground economy in the Caribbean countries for the period 1970-2009, using annual data with a panel approach, including a set of social and institutional variables (the degree of urbanization, the Index of Globalization, the Index of Participation...

A taxonomy of underground economies is elaborated based on the new institutional approach to economic development. Members of formal sectors confront different sets of transformation and transaction costs than do members of informal sectors and these differences are regarded as crucial to the...