Development Seminar：

“The Long Shadow of Informality: Challenges and Policies”

• Logistic Information
  • Time: 8-9 PM, June 28, 2021 （GMT+8, Beijing time）
  • Zoom link: https://zoom.com.cn/j/98351846936?pwd=RnlwbkJRZ0lPVFF3aHJUanljZThNQT09
  • Zoom meeting ID: 983 5184 6936
  • Password：698756
  • Host: National School of Development, Peking University
  • Panelists: Lixing Li, Tianyang Xi, Xiaobo Zhang

• Speakers:

Franziska Lieselotte Ohnsorge

Dr. Franziska Lieselotte Ohnsorge is Manager of the Prospects Group in the Equitable Growth, Finance and Institutions (EFI) Practice Group at the World Bank. The Prospects Group leads the World Bank’s forecasting work and produces the semi-annual Global Economic Prospects flagship report. Prior to joining the World Bank, Franziska Lieselotte Ohnsorge worked in the Office of the Chief Economist of the European Bank for Reconstruction and Development on regional surveillance, forecasting, and financial sector policy issues. She was previously at the International Monetary Fund, covering a range of Asian, European and Central Asian economies. She has published on a variety of topics in journals such as Journal of Political Economy, Journal of Monetary Economics, and IMF Economic Review.

Shu Yu

Dr. Shu Yu is a Senior Economist with the Prospects Group in the Equitable Growth, Finance and Institutions (EFI) Practice Group at the World Bank. Her main research interests are in areas of development economics and political economy and has published in journals such as Public Choice, Journal of Comparative Economics, and International Organization.

• Abstract:

A large percentage of workers and firms operate in the informal economy, outside the line of sight of governments in emerging market and developing economies. This may hold back the recovery in these economies from the deep recessions caused by the COVID-19 pandemic—unless governments adopt a broad set of policies to address the challenges of widespread informality. This study is the first comprehensive analysis of the extent of informality and its implications for a durable economic recovery and for long-term development. It finds that pervasive informality is associated with significantly weaker economic outcomes—including lower government resources to combat recessions, lower per capita incomes, greater poverty, less financial development, and weaker investment and productivity.

Download the full report at:

https://www.worldbank.org/en/research/publication/informal-economy