Relationship of the informal economy with unemployment and GDP per capita: A case of OECD and non-OECD economies
Keywords:Informal economy, OLS, OECD, non-OECD
The current study explored the relationship of the informal economy with unemployment and GDP per capita for the year 2019.The OECD and non-OECD countriesused in the study to explore this relationship, and the total number of countries is 80. The application OLS method found an increase in GDP per capita will reduce the size of the informal economy but the unemployment rate found a positive association with the informal economy. Current research also concludes the size of the informal sector should reduce to promote economic activities in the formal sector.
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