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TeliaSonera Business Day 2014: Exploring the Shadow Economy Around the World
 
On 8 October 2014, CSD presented its experience in measuring the hidden economy in Bulgaria at the TeliaSonera Business Day: Exploring the Shadow Economy Around the World. The Stockholm School of Economics in Riga, the TeliaSonera Institute at SSE Riga and Telia Sonera were the hosts of the event.

Mr. Ruslan Stefanov, Director of the Economic Program at the Center for the Study of Democracy provided some insights on the hidden economy manifestations in Bulgaria for the period 2002-2011. He introduced the audience to CSD’s Hidden Economy Index, which reflects the dynamics of the hidden economy in Bulgaria since 2002 and covers its different components such as hidden employment, hidden turnover, VAT fraud. Mr. Stefanov underlined the importance of the hidden economy issue, and reminded that the hidden economy can be used as an aggregate indicator of the quality of policies and institutions. He provided recommendations for measures to limit undeclared work and stressed on the fact that the cost of entrepreneurship continues to be too high. In that respect, he prompted the researchers and policy-makers to stop discussing macroeconomic stability and fiscal framework and begin concentrating on the markets, firms and people. In conclusion, Mr. Stefanov noted that the hidden economy might have short term stabilizing function, but in the long-term it can have lasting negative consequences for the institutional legitimacy.

Presentation by Mr. Ruslan Stefanov, Director of the Economic Program at the Center for the Study of Democracy (Adobe PDF, 1.5 MB)

For more information visit the website of the Stockholm School of Economics in Riga
 
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