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Preferred term

informal economy  

Definition

  • Informal economy—also referred to as the “unorganized,” “unprotected,” or “unregistered” sector—is a process of income generation that is unregulated by the political institutions of a society, in a legal and social environment in which similar activities are regulated. The absence of institutional regulation in the informal economy affects various elements of the work process. [Source: Encyclopedia of Geography; Informal Economy]

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URI

https://concepts.sagepub.com/social-science/concept/informal_economy

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