A stylized fact of the labour market in developing countries is that it is highly segmented in informality. One of the main factors that induce workers and firms into informality is an excessive regulatory system that makes formal economy little attractive. This study aims to analyze the...

A structural economic dynamic approach is distinguishable by its simultaneous considerations of supply and demand and their related effects wielded upon economic growth. However, properly considering cumulative causation requires a special framework for more fully accounting for technological...