Share this entry

Share this page

shadow economy

Line breaks: shadow econ|omy

Definition of shadow economy in English:

noun

Illicit economic activity existing alongside a country’s official economy, e.g. black market transactions and undeclared work.
Example sentences
  • 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:

Share this entry

Share this page

 

What do you find interesting about this word or phrase?

Comments that don't adhere to our Community Guidelines may be moderated or removed.

Get more from Oxford Dictionaries

Subscribe to remove ads and access premium resources

Word of the day resilient
Pronunciation: rəˈzilyənt
adjective
able to recoil or spring back into shape…