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Informality effects in the economy of Albania in light of world s economic crisis

Author

Listed:
  • Brunilda Muça

    (Faculty of Economy and Agribusiness, University of Tirana, Albania)

  • Galantina Doraci

    (Faculty of Economy and Agribusiness, University of Tirana, Albania)

Abstract

Recently, academicians and economists have expressed a great interest about the informal economy of Albania. This is mainly due to the size of informal economy in absolute and relative terms and to the emphasis economists have placed on the increasing evidence that the size of informal economy, calculated as a percentage of GDP has increased, and grown over the past two decades in many countries of the world. In light of the international economic crisis that was evidenced in 2008, the article will discuss problems of informality in economy as a condition for decreasing the dimensions of impact of the recent economic crises. Informality was and continues to be a concern to the economic circles regarding the theoretical definition, measuring its size and ways to reduce its dimensions. Informality in Albania, according to CIA World Factbook, may be as large as 50 per cent of the official GDP during 2007, 2008, 2009, 2010, and 2011. The aim of this paper focuses in the reduction of informal economy as an anti-crisis factor.

Suggested Citation

  • Brunilda Muça & Galantina Doraci, 2012. "Informality effects in the economy of Albania in light of world s economic crisis," Review of Applied Socio-Economic Research, Pro Global Science Association, vol. 3(1), pages 139-143, July.
    • Handle: RePEc:rse:wpaper:v:3:y:2012:i:1:p:139-143
    as

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    References listed on IDEAS

    as
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    2. Feige,Edgar L. (ed.), 1989. "The Underground Economies," Cambridge Books, Cambridge University Press, number 9780521262309, October.
    3. Bruno Frey & Friedrich Schneider, 2000. "Informal and underground economy," Economics working papers 2000-04, Department of Economics, Johannes Kepler University Linz, Austria.
    4. Dominik H. Enste & Friedrich Schneider, 2000. "Shadow Economies: Size, Causes, and Consequences," Journal of Economic Literature, American Economic Association, vol. 38(1), pages 77-114, March.
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    More about this item

    Keywords

    informality; non-official economy; economic crises; farms;
    All these keywords.

    JEL classification:

    • E26 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Informal Economy; Underground Economy
    • Q13 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Agriculture - - - Agricultural Markets and Marketing; Cooperatives; Agribusiness

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