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Economic Informality : Causes, Costs, and Policies - A Literature SurveyIn this survey the author assemble recent theoretical and empirical advances in the literature on economic informality, analyzing the causes and costs of informality in developed and developing economies. In accordance with recent evidence, the author discusses the nature and the roots of informal economic activity across countries distinguishing between informality as the result of 'exclusion' and 'exit.' The author then provides an extensive review of recent international experience with policies aimed at reducing informality, in particular policies that facilitate the formalization process, create a framework for the transition from informality to formality, lend support to newly created firms, reduce or eliminate inconsistencies across regulation and government agencies, increase information flows, and increase enforcement.
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Making Work Pay in Nicaragua : Employment, Growth, and Poverty ReductionThe objective of this report is to provide some policy guidelines for the fight against poverty. In particular, it hopes to be able to identify the growing sectors, as well as the constraints faced by the poor in benefiting from this growth. The report is part of a series of studies conducted within the Poverty Reduction Group (PRMPR) to foster understanding of the role of employment earnings and labor markets in shared growth. In addition, it is intended to function as a background document for the World Bank's Nicaragua Poverty Assessment 2007. The degree to which growth is able to translate into poverty reduction depends on how its benefits are distributed among different segments of society. There is little doubt that growth measured by changes in average income contributes significantly to poverty reduction. However, it is also clear that countries differ in the degree to which income growth spells have translated into poverty reduction. Although differences in the responsiveness of poverty to income growth account for a small fraction of the overall differences in poverty changes across countries, from the point of view of an individual country, these differences may have significant implications for poverty reduction, especially in the short term.
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Working Out of Poverty : Job Creation and the Quality of Growth in AfricaThis paper explores Africa's economic performance and the creation of jobs over the decade and more since 1995, recognizing that some standard labor concepts are difficult to apply to conditions prevailing in Africa. The intent of the paper is to identify the economic factors behind the more successful outcomes and the options available for improving the quality of growth. The report focuses on several key issues: how has the structure of economic growth and labor demand shaped the job creation process? Does rigidity in African labor markets impede job creation? Have the quality and quantity of the labor supply affected job creation? What policies have been pursued to raise the quality of the African labor force? What does the expanding "informal" sector mean for the labor market and the quality of growth? Is it a route out of poverty or a low-skills trap? Throughout the paper, the focus is on the factors, exogenous and endogenous, that are linked to the outcomes, and the implications that these factors may have for raising the quality of Africa's economic growth. Some countries have reversed many of the vicious cycles underlying Sub- Saharan Africa's generally poor performance on job creation; those countries are highlighted where adequate data are available, and the lessons these experiences offer all stakeholders in meeting the growth and poverty reduction challenges of the future are pointed out. The paper concludes that Africa's record of poor economic performance has in part been an inevitable result of its colonial heritage-the low levels of human capital at independence. It is also a function of the ensuing policies pursued, especially those that led to the debt crisis and the subsequent recession and public sector restructuring. In most countries, these costs have been paid, and the future looks brighter as a result.