Legalization of Shadow Economic Activity in Russia

The publication examines the current issues of a legal policy in relation to the shadow economy. The authors also estimate certain factors and conditions of shadow economy's determination. The scholars propose legal measures, institutional and economic arrangements to insure the rule of law addressed to business. The researchers observe a model of macroeconomic balance that incorporates the amount of the recovery of corruption proceeds and its effect. The paper makes the case for developing a long-term state strategy for the shadow business sector's shift to the formal economy. Moreover, it justifies the necessity for total monitoring the status and trends of shadow economic dynamism.