METHODS OF CALCULATING THE SHADOW ECONOMY AND THEIR COMPARISON IN THE BALTIC STATES
DOI:
https://doi.org/10.17770/iss2024.8332Keywords:
Baltic states, shadow economy, shadow economy calculation methods, shadow economy indexAbstract
Despite the fact that from 2012 to 2022 the economic growth rate of the Baltic states had increased, the share of the shadow economy in their economies decreased only minimally and still remains above 20% of GDP. The shadow economy consists of numerous and various components and influencing factors, the scope of which depends on the researcher, country, chosen method, and other criteria. The shadow economy is a significant economic phenomenon that needs to be controlled, monitored, and combated. To successfully combat it, it is necessary to work on methods for calculating the shadow economy, understand the formulas of these methods, their scope, and apply the appropriate method depending on the chosen objective, since the precise extent of the shadow economy cannot be accurately determined. The novelty of the research: the author studied the methods for calculating the shadow economy, their various scopes, and the impact they have on the variability of the shadow economy indicator, using the methods applied in the Baltic states.
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References
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