https://www.babli-omeka.rguclass.com/files/original/4295613fe186e09ee95d217964aada47.pdf 57a9e9f6e7ab10a402f45bd662bae087 Dublin Core The Dublin Core metadata element set is common to all Omeka records, including items, files, and collections. For more information see, http://dublincore.org/documents/dces/. Title A name given to the resource Economic Research Paper Dublin Core The Dublin Core metadata element set is common to all Omeka records, including items, files, and collections. For more information see, http://dublincore.org/documents/dces/. Title A name given to the resource The unofficial economy and economic development Subject The topic of the resource Economic Description An account of the resource In developing countries, informal firms (those that are not registered with the government) account for about half of all economic activity. We consider three broad views of the role of such firms in economic development. According to the romantic view, these firms would become the engine of economic growth if not stopped by government regulation. According to the parasite view, informal firms, by avoiding taxes and regulations, unfairly compete with the more efficient formal firms and, by taking away their market share, undermine economic progress. According to the dual view, informal firms are highly inefficient, do not pose much threat to the formal firms, but also do not contribute to economic growth, which is driven by the efficient formal firms. Using data from World Bank firm level surveys, we find that informal firms are small and extremely unproductive, compared even to the small formal firms, and especially relative to the larger formal firms. Compared to the informal firms, formal ones are run by much better educated managers. As a consequence, they use more capital, have different customers, market their products, and use more external finance. Hardly any formal firms had ever operated informally. This evidence is inconsistent with the romantic and parasite views, but supports the dual view. In this "Walmart" theory of economic development, growth comes from the creation of the highly productive formal firms. Informal firms keep millions of people alive, but disappear over time. Creator An entity primarily responsible for making the resource Porta,Rafael La Shleifer,Andrei Publisher An entity responsible for making the resource available NATIONAL BUREAU OF ECONOMIC RESEARCH Date A point or period of time associated with an event in the lifecycle of the resource 2008 Language A language of the resource English Type The nature or genre of the resource Article Identifier An unambiguous reference to the resource within a given context https://www.nber.org/system/files/working_papers/w14520/w14520.pdf VRA Core VRA Core standard for artistic pieces and cultural heritage artifacts. The first input will be treated as a <display> element. More detailed VRA Core metadata is available below that input. Title The title or identifying phrase given to a Work or an Image. THE UNOFFICIAL ECONOMY AND ECONOMIC DEVELOPMENT