Liberia: Informal economy, DGE method

* indicates monthly or quarterly data series

Informal economy, DGE method

 Latest value 39.90
 Year 2020
 Measure percent
 Data availability 1990 - 2020
 Average 42.00
 Min - Max 39.10 - 44.90
 Source Informal economy database
For that indicator, we provide data for Liberia from 1990 to 2020. The average value for Liberia during that period was 42 percent with a minimum of 39.1 percent in 1990 and a maximum of 44.9 percent in 2009. The latest value from 2020 is 39.9 percent. For comparison, the world average in 2020 based on 156 countries is 28.16 percent. See the global rankings for that indicator or use the country comparator to compare trends over time.
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* indicates monthly or quarterly data series

Recent values chart
Liberia - Informal economy, DGE method - Recent values chart

Historical chart
Liberia - Informal economy, DGE method - historical chart - 1990-2020

Definition: This method of estimating the size of the informal economy is based on a Dynamic General Equilibrium model where economic agents can allocate time and effort in the formal and the informal sector. Their allocation decision is driven by model parameters such as government spending and taxation. The theoretical model is calibrated to arrive at a measure of the size of the informal economy. The estimate is put to further robustness tests. See Elgin and Oztunali (2012) for further methodological detail.

 Related indicators Latest value Reference Measure
 Rule of law -0.92 2022 points
 Government effectiveness -1.44 2022 points
 Control of corruption -0.93 2022 points
 Regulatory quality -0.98 2022 points
 Voice and accountability -0.02 2022 points
 Political stability -0.29 2022 points
 Corruption perceptions - Transparency International 26 2022 points
 Political rights 2 2024 points
 Civil liberties 4 2024 points
 Competitiveness 40.50 2018 points
 Cost of starting a business 6.30 2019 percent of per capita GNI
 Shadow economy 43.67 2015 percent
 Informal economy, MIMIC method 47.90 2020 percent
 Informal economy, DGE method 39.90 2020 percent
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