World Bank report on informal economies

Apparently, “underground” and “shadow” economy are now being replaced by “informal.” This is appropriate the basic objection by evaluators is that the failure to fill our bureaucratic forms prevents them from knowing what is going on. One would think that after two centuries of market development there would be greater buy-in if people’s life experiences had been improved. The World Bank has sponsored a study which is available for download.

Some countries are likely to have the contents reviewed in the press. Nigeria reports that 77% of its GDP is in the informal sector and the main rationale for why the economy should be formalized seems to be to provide more tax revenue to government so it can prevent recession. Seems like a low ambition.

Zelensky in Ukraine has recently spoken out against the shadow economy because Ukraine is going to need a lot of money to rebuild and increase it defenses. The economy has to grow so government can collect more taxes.

7/5/22 update
I have been putting off reading and expctt not to continue. Although the study covers 160 countries (36 developed), we are suppoed to believe that 29 years is a long time.
I fear that the ability to collect taxes is a measure of success.