Rising Informality
By some estimates more than 30 percent of the developing world's GDP and 70 percent of its workers are outside the official economy. The implications: Most small firms are trapped in low-productivity operations with little access to finance, k...
| Main Authors: | , |
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| Format: | Viewpoint |
| Language: | English |
| Published: |
World Bank, Washington, DC
2012
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| Subjects: | |
| Online Access: | http://documents.worldbank.org/curated/en/2005/08/6242398/rising-informality http://hdl.handle.net/10986/11209 |
| Summary: | By some estimates more than 30 percent
of the developing world's GDP and 70 percent of its
workers are outside the official economy. The implications:
Most small firms are trapped in low-productivity operations
with little access to finance, key government services, and
formal customers. Workers lack safety and social protection.
And bigger, better-connected firms use unfair informal
practices to beat out more productive formal competitors.
The result is slower economic growth and a growing social
divide between the informal and formal parts of society. |
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