Informal labour reduces financial inclusion – BIS research
Study of data in Peru suggests large informal economies create obstacles to development
People working in the informal economy are less likely to enter the formal financial system, with negative consequences for economic development, Bank for International Settlements research finds.
In its latest working paper, the institution focuses on Peru, where around 70% of workers are employed in the informal economy – one of the largest proportions in the world.
The authors, Jose Aurazo and Faird Gasmi, observed Peruvian household survey data from 2015 to 2018. They analysed workers’
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