Informal Economy
Definition of Informal Economy
The Canada social science dictionary [1] provides the following meaning of Informal Economy: Also known as the ‘underground economy’, or the ‘hidden economy’, refers to those economic activities which are carried on outside the institutionalized structures of the economy. For most purposes this means they are transactions not reported to the taxation department, office of unemployment insurance, worker’s compensation or municipal governments. Usually these transactions are based on cash exchanges but they may be bartered for goods or services.
Informal Economy: Resources
Notes and References
- Drislane, R., & Parkinson, G. (2016). (Concept of) Informal Economy. Online dictionary of the social sciences. Open University of Canada
Resources
Legal English Vocabulary: Informal Economy in Spanish
Online translation of the English legal term informal economy into Spanish: economía informal (English to Spanish translation) . More about legal dictionary from english to spanish online.
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