We study the degree of synchronization between formal- and informal-economy business cycles. Using a comprehensive database of informal activity that covers a wide range of informality measures from almost 160 countries over the 1990-2018 period, we report two major results. First, fluctuations...

This paper introduces a comprehensive database of informal economic activity. The database focuses on measures that have strong cross-country and over time coverage: it includes both model-based and survey-based measures of informality and covers more than 160 economies for the period 1990-2018....

We study the degree of synchronization between formal- and informal-economy business cycles. Using a comprehensive database of informal activity that covers a wide range of informality measures from almost 160 countries over the 1990-2018 period, we report two major results. First, fluctuations...

This paper introduces a comprehensive database of informal economic activity. The database focuses on measures that have strong cross-country and over time coverage: it includes both model-based and survey-based measures of informality and covers more than 160 economies for the period 1990-2018....

We examine whether economic and military competence of political leaders affect their duration in office. We introduce leader heterogeneity in the selectorate theory of Bueno de Mesquita et al. (2003) and derive the hypothesis that in the presence of a revolutionary threat, economic competence...

Benign financing conditions since the global financial crisis and, more recently, rising financing needs have fueled a rapid increase in credit to the nonfinancial private sector, especially to the corporate sector, in emerging markets and developing economies. Credit growth has been most...

This paper examines the driving forces of China's contracted engineering projects in Africa. Using data on contracted engineering projects in 52 African countries over the period 1991–2010, three groups of hypotheses are tested: (1) economic motives; (2) political ties between China and Africa;...

Africa will account for 80 percent of the projected 4 billion increase in the global population by 2100. The accompanying increase in its working age population creates a window of opportunity, which if properly harnessed, can translate into higher growth and yield a demographic dividend. We...

Informality is a multidimensional development challenge with features that potentially differ across workers, firms, and countries. This paper first briefly summarizes the literature, discusses the multiple existing definitions of informality, and adapts the cross-country analytical framework on...