Gray market

(redirected from Non-Observed Economy)
Also found in: Dictionary, Thesaurus, Acronyms.

Gray market

Describes the sale of securities that have not officially been issued to firms other than the underwriting syndicate. This type of market serves as a good indicator of demand for a new issue in the public market.
Copyright © 2012, Campbell R. Harvey. All Rights Reserved.

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.
Farlex Financial Dictionary. © 2012 Farlex, Inc. All Rights Reserved
References in periodicals archive ?
According to the calculations of the authors, which represented Institute of Social and Labour Research based on the data of the State Social Insurance the extent of hidden employment in 2003 reached about 200 thousand while according to the data of the Survey on Non-Observed Economy this number equaled about 100 thousand.
Firstly, due to the methodological problems assessment of the hidden employment in the survey on Non-Observed Economy 2003 was restricted to hired employees, although this phenomenon exists among self-employed persons as well.

Full browser ?