Prefer Your Economy in the Shadows? Try Mexico Economywatch.com
go to original January 19, 2016

Mexico's informal economy creates jobs but lacks security (CCTV/BizAsiaAmerica)

The Organization for Economic Cooperation and Development (OECD) recently released a study on the "unregistered economies" of its various member states. According to the study, the nation with the largest portion of its economy in the unregistered territory was Turkey, followed closely by Estonia and Mexico.

How bad does the shadow economy need to be in one's nation to make the top of the list? In Turkey, the OECD's study found, the ratio of unregistered economy to legitimate gross domestic product (GDP) was a staggering 28.72 percent. Lest one think, the study’s influence was by outside forces keen to cast the Turkish economy in a bad light, note that Ceyhun Elgin of the Economy Department at Istanbul’s Bosphorus University authored the study.

Elgin found that Estonia and Mexico were not fairing much better. In the case of Estonia, the shadow economy equates to 28.7 percent of its official GDP, while Mexico's accounts for 28.1 percent. On the other end of the spectrum, the United States had the best record and the smallest unregistered economy, with just 7.95 percent. Switzerland came in second best at a mere 8.07 percent.  Austria, Luxembourg, and Japan round out the list of the top five nations with the smallest unregistered economy, while Italy and Greece were close to the top of the largest shadow economies behind Turkey, Estonia, and Mexico.

According to the Daily News, the OECD's report revealed that the world average share for shadow economies was about 22 percent.

Read the rest at Economywatch.com

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