The Role of the Shadow Economy and Unaccounted GDP in the Regional Economy of Latvia

Abstract

The shadow economy is one of the most relevant problems of the modern economy. It is difficult to overestimate the influence of the shadow sector on the economy, but this influence is far from always negative. In some cases, the shadow economy brings positive changes to the development of the region. The article proposes to highlight new types of the shadow economy. In addition to the shadow economy, the author proposes to separately highlight unaccounted GDP and evaluate its impact on the region.