SCIENTIFIC AND THEORETICAL FOUNDATIONS OF THE SHADOW ECONOMY

This article is devoted to a systematic and multifaceted analysis of the scientific and theoretical foundations of the shadow economy. The study comprehensively examines definitions given to the concept of the shadow economy by various scholarly schools, the causes and mechanisms of its formation, classification systems, and assessment methodologies. Use was made of the global database of Schneider and Medina (2019) covering 158 countries, the IMF Fiscal Monitor (2023), and the World Bank World Development Indicators (2024). The analysis shows that in developing countries the shadow economy accounts for an average of 32.4% of GDP, and in transition economies for 28.6%, causing serious harm to fiscal stability and social justice. A structural analysis of the shadow economy has been carried out using Uzbekistan as a case study: according to 2023 data, the country's shadow economy equals 28.7% of GDP, while the tax gap amounts to 68.7 trillion soums. The article provides a comparative analysis of the MIMIC, monetary, and direct measurement approaches, identifying the advantages and limitations of each. In the conclusion, targeted policy recommendations are proposed for Uzbekistan regarding institutional reforms, digitalization, and an inclusive approach.

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