An Analysis of the Shadow Economy and its Macroeconomic Consequences

Student: Abdurakhimov Azizbek

Supervisor: Marek Dabrowski

Educational Programme: Applied Economics (Master)

Year of Graduation: 2017

In this work, most of the modern methods and models that describe the shadow economy are divided into three groups: optimization, game and measuring size. The advantages and disadvantages of these methods and models have been analyzed in this thesis. Based on the monetary method, the labor force method and the method of MIMIC the size of the shadow economy in Russia has been measured. The proposed method of estimating the dynamics of the shadow economy based on an integral indicator allowed to increase the complexity of assessments and identify the dynamics of the shadow economy of Russia for the period 1999-2016. The relationship between the shadow economy and the main macroeconomic indicators of the official economy, and the impact of shadow economy on the population’s welfare are analyzed empirically.

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