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Reducing the Costs and Enhancing the Benefits of FormalityFrom the Firm's Perspective / Arvo Kuddo.
World Bank Open Knowledge Repository (formerly "World Bank E-Library Publications") Available online
View online- Format:
- Book
- Government document
- Author/Creator:
- Kuddo, Arvo.
- Series:
- Other papers
- World Bank e-Library.
- Language:
- English
- Subjects (All):
- Labor Markets.
- Private Sector Development.
- Local Subjects:
- Labor Markets.
- Private Sector Development.
- Place of Publication:
- Washington, D.C. : The World Bank, 2017.
- System Details:
- data file
- Summary:
- The high incidence of informality in developing countries acts as a drag on economic development due to the associated efficiency and equity costs and implied weak governance. Policy makers therefore want to reduce informality. This note presents guidance on policy levers to make formality more attractive and informality less attractive from the perspective of small, medium and large firms, and from the perspective of micro-entrepreneurs. It elaborates the challenges for shifting incentives in favor of being formal and employing workers on formal contracts rather than operating under the regulatory radar, and presents a range of policy options.
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