Classifying Latin American Economies: A Degree of Informalisation Approach

Colin Williams and Youssef Youssef

International Journal of Business Administration, 2014, vol. 5, issue 3, 73-85

Abstract: Given the commonality of employment in the informal economy, this paper moves beyond classifying economies by the composition of their formal economies and instead classifies economies by their degree of informalisation. Analysing International Labour Organisation data on the varying level of employment in the informal economy across 16 Latin American economies, the outcome is to reveal a significant correlation between cross-national variations in the degree of informalisation and cross-national variations in GNP per capita, poverty and social contribution levels. The paper concludes by discussing the implications for theory and policy.

Keywords: informal sector; shadow economy; underground sector; varieties of capitalism; economic development; Latin America (search for similar items in EconPapers)
Date: 2014
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Citations: View citations in EconPapers (5)

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Persistent link: https://EconPapers.repec.org/RePEc:jfr:ijba11:v:5:y:2014:i:3:p:73-85

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