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Some Implications of the Growth of the Underground Economy in Colombia

Published online by Cambridge University Press:  02 January 2018

Francisco E. Thoumi
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Extract

Según lo que aquí visto, es tan buena la justicia que es necesaria que se use aun entre los mesmos ladrones (Sancho Panza).

The growth and importance of the underground economy has come under increasing attention from the economic profession in recent years. However, there is no consensus as to precisely which economic activities can properly be defined as forming this segment of the larger economy, although one observer has commented that they range “from relatively legal to totally criminal, that somehow escape official attention and may distort official statistics and lead to erroneous policies” (Tanzi, 1983:10). The “relatively legal” activities, which exist at one end of the spectrum, basically consist of those normal activities whose exercise is either inhibited by government red tape or which are subject to restrictions (such as minimum standards) which their agents are reluctant to meet.

Type
Research Article
Information
Journal of Interamerican Studies and World Affairs , Volume 29 , Issue 2 , Summer 1987 , pp. 35 - 54
Copyright
Copyright © University of Miami 1987

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