Definition of shadow economy in English:
Illicit economic activity existing alongside a country’s official economy, e.g. black market transactions and undeclared work.
- Dimitrov said that the most serious problems that would have to be solved are organized smuggling channels, money laundering, the shadow economy and the existing mechanisms for customs fraud which received government protection.
- I think that the important thing is to focus on the formal and informal zones and realize that the two are dependent on each other just as the shadow economy depends on the formal economy and vice versa.
- Recent estimates suggest that the shadow economy, where illegal aliens must operate, drains as much as a trillion dollars from the U.S. mainstream economy.
Definition of shadow economy in:
- US English dictionary
What do you find interesting about this word or phrase?
Comments that don't adhere to our Community Guidelines may be moderated or removed.
Most popular in the US
Most popular in the UK
Most popular in Australia
Most popular in Malaysia
Most popular in India
Most popular in Pakistan