Growth, formalisation and development: the case of Peru
Abstract
Peru has experienced remarkable improvements in economic growth and poverty reduction during the last years. Informal employment has reduced modestly and still affects to more than 70% of workers. Even when important institutional changes have occurred, such as workers registration simplification and a better enterprises supervision, the formalization process requires productive structure changes and to improve links between economic sectors. Otherwise, economic growth generates unequal labour market outcomes and slows down the formalization process.
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