grey market

(redirected from Grey economy)
Also found in: Dictionary, Thesaurus.
Related to Grey economy: black economy, Informal economy, Gray economy

Gray Market

Trade using unofficial and unregulated, but still legal, means. In securities, a gray market typically refers to trade in bonds or stocks not yet issued. These sales are contingent upon the issuance actually taking place, and are sometimes considered benchmarks for how successful the issuance will be. Another example of a gray market is the pharmaceuticals industry, in which buyers in different countries sometimes pay very different amounts. Buyers in the more expensive country may travel to the other country to buy their medicines, creating a gray market.

grey market

an ‘unofficial’ market in newly issued shares prior to their being formally listed and traded on the STOCK EXCHANGE. See SHARE ISSUE.
References in periodicals archive ?
In approximately one third of the countries, as well as in Macedonia, the managers point at the informal grey economy as main obstacle in their business.
The 'grey economy' is often rife in emerging markets where smaller businesses continue to trade in legal goods but do not declare or pay taxes on their trade or who they employ.
If one adds the grey economy field to that, the number is twice as high.
With the Egyptian economy deteriorating and job opportunities in short supply, many Egyptians are trying to cover their expenses through the massive grey economy, which operates outside the tax system and most government regulation.
Increasing its penetration in Morocco from the robust 50% plus level it reached in 2011 is another challenge, especially since people without bank accounts which are estimated at about 8m are either reluctant to tap banks or earn their bread on the grey economy with the poor infrastructure reducing access to banks being yet another obstacle.
Do you think the black and grey economy is being dealt with?
With the economy floundering and formal jobs scarce, more Egyptians are trying to make ends meet in the massive grey economy, which operates outside the tax system and most government regulation.
The grey economy did not happen overnight but was born and grew with the transition.
Agreement by Bulgarian Prime Minister Boiko Borissov to a proposal by unions to increase social security contributions from 2011 prompted employer organisations to walk out of the tripartite council, claiming bad faith and saying that the plan would worsen the grey economy and heighten unemployment.
Simsek said one of the most important problems of Turkey was "grey economy" noting that the government would make the tax auditing more strict.
Thirdly, there appears to be a strong correlation, and possibly causation, between corporate governance failures and the grey economy. (ANI)
These workers are migrant labour, agency and temporary staff, those working in the grey economy, or home workers who receive lower rates of pay, are unlikely to access pension provisions and generally suffer poor holiday entitlement or non-existent sick pay.