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Causes and Effects of Shadow Economy in Croatia

Shadow economy encompasses all areas of economic activity which are officially considered inconsistent in comparison to the ideological prevalent form of economic organization. The definition of "shadow" or "underground" economy is not firmly fixed but subject to change and varying criteria. There is a whole range of measuring methods adopted according to various principles. The text shows the connection between the shadow economy and economic policy, what stimulates growth of the shadow economy and what measures can be taken to influence the way it develops. After short introduction, definition and measuring are explained. Section 3 is dedicated to the situation in Croatia, where various methods are explained followed by section 4 related to the links between shadow economy and economic crisis. The text finishes with conclusions and recommendations for improvement.

"shadow" or "underground" economy; tax evasion; economic development; Croatia

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