Definition of shadow economy in English:
Illicit economic activity (such as black market transactions and undeclared work) existing alongside a country’s official economy.
- 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:
- British & World 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.