A recent study by La Porta and Shleifer (2008) estimates that for the world as a whole, between 23 and 35 percent of all economic activity occurs in the informal or the unregistered sector; for the poorest countries the figure is even higher—estimates range between 29 and 57 percent. We also have anecdotal evidence that women entrepreneurs and workers constitute a much higher proportion of the informal than the formal sector.
Editor's note: Dorsati Madani is a Senior Economist with the Strategy and Analysis Unit of the World Bank Group's Investment Climate Advisory department.
April 15 is the date that Americans have to send in their tax returns. Many folks scramble at the last minute to get their returns post-marked by this date or pay penalties on their taxes. (Of course, things got easier this year for American employees of international organizations after the release of the Geithner edition of TurboTax.) But in celebration of tax day, I thought I'd share a few data points from tax regimes in other parts of the world.
Microfinance has had its share of PR problems lately.
Dear PSD readers and fans,
From all of as at PSD, we wish you a happy and safe 2010. We will return on January 4th, and look forward to continuing our conversation about economics, development and the role of private enterprise in fighting poverty.
The PSD Team