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In most developing nations, formal workers tend to be more experienced, more educated, and earn more than informal workers. These facts are often interpreted as evidence that low-skill workers face barriers to entry into the formal sector. Yet, there exists little direct evidence that such...
Persistent link: https://www.econbiz.de/10005368116
Countries differ markedly with respect to income per capita. These differences cannot be accounted for by differences in factors of production, which means that measured TFP varies significantly across countries. Countries that have a poorly developed financial intermediation sector tend to be...
Persistent link: https://www.econbiz.de/10005069566