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Business, 11.02.2020 22:01 svarner2001

Medina and Schneider (2018) from the IMF estimated that the average size of the "shadow economy" over the 1991-2015 period is 23.9% of GDP for India and 8.3% of GDP for the United States. According to the authors, "[t]he shadow economy includes all economic activities which are hidden from official authorities for monetary, regulatory, and institutional reasons."
According to the results, you would expect that the GDP per person in India and the United States will differ by than their actual amount of economic activities.
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Medina and Schneider (2018) from the IMF estimated that the average size of the "shadow economy" ove...
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