Abstract
Informalities in the Serbian economy seem to be relatively persistent and widespread, as suggested by some empirical evidence and numerous anecdotal evidence provided by citizens and companies. Nevertheless, the shadow—or informal—economy is a rather complicated phenomenon with a complex set of causes and consequences, implying that there are no universally accepted definitions nor quantification methods for determining the relative size of its impact. This paper takes a pioneering approach using the “monetary method” or the “currency demand approach” for the Serbian economy, based on econometric estimates of the demand for money. In this context, we rely on the well-known currency demand approach, expanding and applying it to the case of Serbia. Against the backdrop of the key research question, we found that the shadow economy in Serbia has decreased to roughly 20% of GDP in late 2021 from roughly 30% in 2005.
Subject
Management, Monitoring, Policy and Law,Renewable Energy, Sustainability and the Environment,Geography, Planning and Development,Building and Construction
Reference50 articles.
1. R204—Transition from the Informal to the Formal Economy Recommendation;Proceedings of the 104th Session of the International Labour Conference,2015
2. Estimating the Size of the Shadow Economy: Methods, Problems and Open Questions;Schneider,2016
3. The economics of the informal sector: a simple model and some empirical evidence from Latin America
4. Shadow Economies: Size, Causes, and Consequences
5. Measuring, explaining, and controlling tax evasion: lessons from theory, experiments, and field studies
Cited by
1 articles.
订阅此论文施引文献
订阅此论文施引文献，注册后可以免费订阅5篇论文的施引文献，订阅后可以查看论文全部施引文献