In the context of increasing social and economic tensions, one of the reasons for the low level of economic development of both individual countries and the world as a whole, is the activation of economic entities and households towards concealing their income and shadowing their output. The aim of this study is to develop a methodological toolkit for evaluating the effectiveness of public policies to counteract the shadow economy. This paper empirically investigates the economic and social effects of implementing an effective policy of the de-shadowing economy. The developed approach assumes an assessment of the integral index of public policy effectiveness, which is based on the following components: regulatory efficiency, procedural efficiency, substantive efficiency and transactive efficiency. Based on the panel regression models, the most prioritized measures of the de-shadowing economy were identified (formation of a sufficient level of tax morality, reduction of corruption in state bodies, raising awareness of the main goals of economic reforms, etc.). ?The scientific contribution of the article consists in the fact that the current studies of the effectiveness of the policy of de-shadowing the economy are fragmentary and limited to studies of the effectiveness of its individual components. The established inter dependence can help to increase the effectiveness of measures to stimulate business entities to withdraw funds from the shadow and improving the performance of the official economic sector. Also, modern information technologies can counteract the emergence and help in subsequent monitoring of the shadow economy. Contemporary times are marked by the digital blood circulation of data, which makes the virtualization of the world, apart from globalization, a marker of the level of development of the economies of individual countries. Economy 4.0 with set of technical and technological solutions includes cloud data collection and computing, mobile technologies, analysis of large data sets (Big Data), social media in business and finally Block chain technology will reduce shadow economy.