The unofficial, and often illegal, part of a national ECONOMY. In it are tax evaders and illegal producers of goods and services. Companies participating in this sector falsify their accounts by omissions or inaccurate entries. Rich and poor,...

The activities of the BLACK ECONOMY and of households and voluntary organizations. The value of all the goods and services produced in this way does not enter into the official NATIONAL INCOME accounts. Brezinsti, H. (1991) The Shadow Economy, Boulder,...

An unauthorized market with transactions contrary to governmental regulations. Markets of this kind are often found when there are price or EXCHANGE CONTROLS or the restriction of trading to a list of authorized dealers. Soviet-type economies were...

The economic activities of a nation not officially recorded and sometimes illegal. See also: black economy; informal economy Geige, E.L. (ed.) (1989) The Underground Economies, Cambridge: Cambridge University...

The underground economy, shadow economy, black economy, parallel economy, or black market consists of all commerce on which applicable taxes are being evaded. The market includes not only legally-prohibited commerce (for example, drugs, prostitution,...