Greece: Informal economy, DGE method

* indicates monthly or quarterly data series
 Greece

Informal economy, DGE method

 Latest value 26.00
 Year 2020
 Measure percent
 Data availability 1990 - 2020
 Average 26.91
 Min - Max 25.30 - 28.80
 Source Informal economy database
The latest value from 2020 is 26 percent, a decline from 26.1 percent in 2019. In comparison, the world average is 28.16 percent, based on data from 156 countries. Historically, the average for Greece from 1990 to 2020 is 26.91 percent. The minimum value, 25.3 percent, was reached in 2012 while the maximum of 28.8 percent was recorded in 1990. See the global rankings for that indicator or use the country comparator to compare trends over time.
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* indicates monthly or quarterly data series


Recent data
Greece - Informal economy, DGE method - Recent values chart

Historical series
Greece - Informal economy, DGE method - historical chart - 1990-2020




Definition: This method of estimating the size of the informal economy is based on a Dynamic General Equilibrium model where economic agents can allocate time and effort in the formal and the informal sector. Their allocation decision is driven by model parameters such as government spending and taxation. The theoretical model is calibrated to arrive at a measure of the size of the informal economy. The estimate is put to further robustness tests. See Elgin and Oztunali (2012) for further methodological detail.

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 Related indicators Latest Reference Measure
 Rule of law 0.21 2023 points
 Government effectiveness 0.15 2023 points
 Control of corruption 0.10 2023 points
 Regulatory quality 0.58 2023 points
 Voice and accountability 1.01 2023 points
 Political stability 0.24 2023 points
 Corruption perceptions - Transparency International 49 2023 points
 Political rights 2 2024 points
 Civil liberties 2 2024 points
 Competitiveness 62.60 2019 points
 Cost of starting a business 1.50 2019 percent of per capita GNI
 Shadow economy 26.45 2015 percent
 Informal economy, MIMIC method 30.20 2020 percent
 Informal economy, DGE method 26.00 2020 percent
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