The reality of informal economy in Vietnam and policy recommendations
Keywords:
Informal economy, non-observed economy, latent economy, illegal economy, household self-production, and self-consumption economy, shadow economy, hidden economy
Abstract
Informal economy (IE) is a group of businesses that produce goods and services with an attempt to majorly create jobs and income for laborers. For Vietnam, the enterprises of the informal economy exist mostly in communes and wards. Up to now, the reality of the informal economy, however, has not been evaluated and considered in terms of the policy as well as measured by statistics on the scale and extent of the economy in the informal economic area. The article provides readers with the current shortcomings and offers some recommendations of policies for the informal economy.
