Informality and Globalization

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Presentation transcript:

Informality and Globalization W.F. Maloney Office of the Chief Economist Latin America and Caribbean World Bank LACML/OAS May 2004 Washington, DC

Sources: From Natural Resources to the Knowledge Economy: Trade and Job Quality Informality Revisted (World Development forthcoming) www.worldbank.org/laceconomist

What does a high rate of informality mean? Self-Employment vs Level of Development % Self Employed in Work Force Log. Industrial Value Added/Worker

Rise in informality in early 1990s- booms and welfare improvement? Mexico Self Employed  Formal Formal  Self Employed 66% voluntary Unemployment Bosch y Maloney 2004

Mex: rise in informality not acccompanied by segemenatation No Secular Trend Income Formal/SE NT Boom #Form/#SE Fiess, Fugazza, Maloney 2001

Colombia: increase in massive segmentation Income Formal/SE #Form/#SE

Colombia vs. Mexico: Nominal rigidities have compounded the impact of the crisis Distribution of informal and formal salaries Careful with minimum wages!

Argentina: Movement Toward Informality Predates Trade Reform Informality Rate for Salaried Workers in Greater Buenos Aires, 1980-1990 - 15% 20% 25% 30% 35% 40% 1980 1981 1982 1983 1984 1985 1986 1987 1988 1989 1990 1991 1992 1993 1994 1995 1996 1997 1998 1999 Trade Liberalization Gasparini 2000

Formality Is Higher in Tradeable Industries Rate of Formality By Tercile of Exports-imports/worker High Imports High Exports Montes and Maloney 2001

Informality as part of global manufacturing chain Informality as part of global manufacturing chain? Didn’t increase with NAFTA Share of micros with large business clients Sector 1994 1996 1998 Manufacturing 30 16 22 Services 12 11 10 Commerce 9 large clients: 30% earnings premium large suppliers: 11% premium Problem: isolation of informal sector. Sanchez, Joo and Zappala 2001