Measuring Underground (Unobserved, Non-Observed, Unrecorded) Economies in Transition Countries: Can We Trust GDP?

Edgar Feige and Ivica Urban

No wp913, William Davidson Institute Working Papers Series from William Davidson Institute at the University of Michigan

Abstract: This paper compiles alternative estimates of underground economies in twenty five transition countries during the transition decade and finds a disturbing lack of convergence between them, calling into question the reliability of GDP figures (which in varying degrees now include non-transparent imputations for the “nonobserved economy”) as well as the macro model estimates of the unrecorded economy.

Keywords: Underground; unrecorded; unobserved; non-observed; NOE; hidden; informal; shadow; GDP; national accounts; transition economies. (search for similar items in EconPapers)
JEL-codes: E01 E26 H26 O11 O17 P24 (search for similar items in EconPapers)
Pages: pages
Date: 2008-03-01
New Economics Papers: this item is included in nep-mac and nep-tra
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (40)

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Related works:
Journal Article: Measuring underground (unobserved, non-observed, unrecorded) economies in transition countries: Can we trust GDP? (2008)
Working Paper: Measuring Underground (Unobserved, Non-Observed, Unrecorded) Economies in Transition Countries: Can We Trust GDP? (2007)
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