Hidden Bibliographic Details
| Other authors / contributors: | Medina, Leandro, author.
International Monetary Fund, issuing body.
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| ISBN: | 1299678270
9781299678279
9781484334485
1484334485
9781484322635
1484322630
9781484331613
1484331613
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| Notes: | "May 2013."
Includes bibliographical references (page 12).
Online resource; title from PDF caption title (IMF, viewed September 4, 2013).
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| Summary: | This study estimates the size of the informal economy, and the relative contribution of each underlying factor, for the Caucasus and Central Asia countries in 2008. Using a Multiple Indicator-Multiple Cause model, we find that a burdensome tax system, rigid labor market, low institutional quality, and excessive regulation in financial and products markets are determinant factors in explaining the size of the informal economy, which ranges from 26 percent of GDP in Kyrgyz Republic to around 35 percent of GDP in Armenia. Furthermore, the results show that higher levels of informality increase the levels of self employment and the percentage of currency held outside the banking system.
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| Other form: | Print version: 9781299678279
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