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Informal economy - Wikipedia

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An informal economy (informal sector or grey economy)[1][2] is the part of any economy that is neither taxed nor monitored by any form of government. Although the informal sector makes up a significant portion of the economies in developing countries, it is sometimes stigmatized as troublesome and unmanageable. However, the informal sector provides critical economic opportunities for the poor[3][4] and has been expanding rapidly since the 1960s.[5] Integrating the informal economy into the formal sector is an important policy challenge.[3] In many cases, unlike the formal economy, activities of the informal economy are not included in a country's gross national product (GNP) or gross domestic product (GDP).[3] However, Italy has included estimates of informal activity in their GDP calculations since 1987, which swells their GDP by an estimated 18%[6] and in 2014, a number of European countries formally changed their GDP calculations to include prostitution and narcotics sales in their

Informal economy - Wikipedia Jump to content From Wikipedia, the free encyclopedia Economic activity unregulated by government Economic sectors Three-sector model Primary sector ( raw materials ) Secondary sector ( goods manufacturing ) Tertiary sector ( services ) Additional sectors Quaternary sector (information services) Quinary sector (human services) Theorists AGB Fisher Colin Clark Jean Fourastié Sectors by ownership Business sector Private sector Public sector Voluntary sector v t e Part of a series on the Grey market Types Automobile Broadcast piracy Cellular phones Stock market securi

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