Abstract
In this series of articles from the Economic Vertical, we explore the multifaceted nature of the shadow economy, its implications, and the various forms it takes across different contexts.
The first article, by Alubiya Saji and Yashashwini Rathore, examines the concept of the shadow economy, defining its scope and examining its significant impact on social and economic structures. They highlight the various types of dark economies, including the illegal, unreported, unrecorded, and informal economies, and discuss the illicit markets that thrive within these frameworks.
The second article, authored by Govind Menon, focuses on the global context of illicit markets, exploring their classification and characteristics. Menon argues that black markets arise from regulatory constraints and high taxation, leading individuals to engage in illegal activities. He emphasizes the need for understanding these markets to develop effective counter-strategies.
The third article, written by Ayushi Ladda, Harshini Sakireddy, Kanak Sharma, and Sukriti, investigates the dynamics of illicit trade, particularly in sectors such as drug trafficking and human trafficking. They analyze how these activities exploit regulatory loopholes and contribute to societal issues like corruption and violence.
The fourth article by Bhavika Jain, Aashna Dhingra, and Radhika Kukreja examines the phenomenon of black marketing in India, using recent events in concert ticket sales as a case study. They discuss how black markets operate outside legal frameworks and the implications for consumers and society.
Finally, Kavya Bhatia's article addresses the socio-economic impact of illicit markets globally, providing case studies on drug trafficking in Latin America, cybercrime in Eastern Europe, and wildlife trade in Southeast Asia. Bhatia emphasizes the need for coordinated international efforts to combat these pervasive issues while acknowledging the complexities involved.

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