Sever, Can; Yücel, Emekcan - In: Economic systems 48 (2024) 2, pp. 1-15
show that higher informality is also associated with weaker income convergence across countries over time. … official authorities for various reasons, in financial development convergence. Using panel data from 156 countries over the … period of 1991-2017, we find that financial development (as measured by credit as share of GDP) tends to converge across …