Measuring the Informal Economy
Policy Papers, February 2, 2021
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- Measuring the Informal Economy
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Bibliographic details
- Authors: Gabriel Quiros-Romero, Thomas F Alexander, Jennifer Ribarsky
- Published: February 2, 2021
- Series: Policy Papers
- DOI: https://doi.org/10.5089/9781513568249.007
Overview and Objective
- Proposes a framework for measuring the informal economy that is consistent with internationally agreed concepts and methodology for measuring GDP.
- Objective: facilitate preparation of estimates of the informal economy as a component of GDP.
Proposed definition and scope
- The informal economy “comprises production of informal sector units, production of goods for own final use, production of domestic workers, and production generated by informal employment in formal enterprises.”
Key contributions and implications
- Provides a framework aligned with national accounts concepts and methods to enable standardized measurement of informal economic activity.
- Establishes scope for data collection and estimation by identifying four components of informal economic production (as quoted above).
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- Policy Paper