Definition of Black economy

1. Noun. A hidden sector of the economy where private cash transactions go unreported. "No one knows how large the black economy really is"

Generic synonyms: Sector
Group relationships: Economic System, Economy

Definition of Black economy

1. Noun. (economics) A sector of a nation's economy that is illegally undocumented due to cash payments or tax avoidance ¹

¹ Source:

Black Economy Pictures

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Lexicographical Neighbors of Black Economy

black coffee
black coffees
black cohosh
black comedy
black coral
black cottonwood
black currant
black cypress pine
black diamond
black disease
black drop effect
black duck
black dwarf
black dwarfs
black economy (current term)
black elder
black elderberry
black eye
black eyes
black felt cup
black fever
black flag
black flags
black fly
black fox
black friar
black friars
black fritillary
black game

Literary usage of Black economy

Below you will find example usage of this term as found in modern and/or classical literature:

1. Report of the Hundred and Seventeenth Round Table on Transport Economics by ECMT Staff, (Bruxelles) Economic Research Centre, Ecmt, economics Round table on transport, Economic Research Centre (2001)
"The black economy covers all services (except housework) that ought to be, ... The black economy may be legal or illegal. Time is also spent in leisure ..."

2. East-West Migration: The Alternatives by Richard Layard (1992)
"But its size is limited by the size of the black economy. ... In Britain the black economy covers about 3 percent of activity (Smith, 1986) and in Germany ..."

3. Estoniaby Centre for Co-operation with Non-members by Centre for Co-operation with Non-members (2001)
"A survey last year estimated that 13% of jobs were in the black economy. Making due allowance for the differences, both measures of unemployment are useful ..."

4. OECD Economic Surveys: Belgium by OECD Staff, Oecd (2005)
"Reducing the tax burden on labour would also lower incentives for economic activity to occur in the black economy. Belgium is believed to have a large black ..."

5. Planet Geographyby Stephen Codrington by Stephen Codrington (2005)
"A changing centre of illegal activities Traditionally, the black economy has always been an ... The black economy includes activities such as tax evasion, ..."

6. Measuring the Non-Observed Economy: A Handbook by Adriaan M. Bloem, OECD Staff, International Labour Organisation, Enrico Giovannini, Int. Labour Office With, International Monetary Fund, OCDE, Statistical Committee, Organisation for Economic Co-operation, Commonwealth of Independent States, Developme (2002)
"... the black economy? Fiscal Studies 21 I1: pp. 58-73. European Commission 119941, Decision 94/168/EC, Euratom of 22 February 1994, Official lournal L77, ..."

7. Syria and the Middle East Peace Process by Alasdair Drysdale, Raymond A. Hinnebusch (1991)
"... Syria's economy is probably not as unhealthy as official figures suggest because of a thriving “black” economy, without which life would be much harder. ..."

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