Understanding the Informal Economy

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This book provides an in-depth exploration of the informal economy across ten Balkan countries, analysing its key drivers, measurement techniques, and broader economic implications. Drawing on a wide range of empirical studies, it examines the methodologies used to estimate the size of informal activities, with a particular focus on the MIMIC (Multiple Indicators, Multiple Causes) model. Spanning the period from the mid-1990s to 2014, the study traces the evolution of informal economic activity across Serbia, Romania, Slovenia, Croatia, Bosnia and Herzegovina, Bulgaria, Albania, North Macedonia, Greece, and Turkey. Due to data limitations, Kosovo and Montenegro are excluded, reflecting the challenges of assessing economic trends in newly independent states. By bridging theoretical frameworks with empirical research, this book offers valuable insights into the role of the informal sector in the region's economic landscape. It serves as an essential resource for scholars, policymakers, and anyone interested in understanding the complexities of informal economies in transition economies.