Maldives: Informal economy, MIMIC method
* indicates monthly or quarterly data series
Maldives |
Informal economy, MIMIC method |
---|---|
Latest value | 31.00 |
Year | 2020 |
Measure | percent |
Data availability | 1993 - 2020 |
Average | 30.00 |
Min - Max | 28.20 - 31.60 |
Source | Informal economy database |
The latest value from 2020 is 31 percent, an increase from 28.2 percent in 2019. In comparison, the world average is 32.74 percent, based on data from 158 countries. Historically, the average for the Maldives from 1993 to 2020 is 30 percent. The minimum value, 28.2 percent, was reached in 2019 while the maximum of 31.6 percent was recorded in 1993.
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Definition: The MIMIC model of the World Bank uses the following variables as determinants of the informal economy: 1) size of government, 2) share of direct taxation, 3) fiscal freedom index, 4) business freedom index, 5) unemployment rate and GDP per capita, and 6) government effectiveness. It proposes that the following variables are affected by the informal economy: 1) growth rate of GDP per capita, 2) the labor force participation rate, and 3) currency as a ratio of M0. These variables are used in a Structural Equation Model (SEM) with a latent variable that is a measure of the size of the informal economy. See, for example, Schneider, Buehn, and Montenegro (International Economic Journal, 2010).
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Related indicators | Latest | Reference | Measure |
---|---|---|---|
Rule of law | -0.03 | 2022 | points |
Government effectiveness | -0.13 | 2022 | points |
Control of corruption | -0.40 | 2022 | points |
Regulatory quality | -0.66 | 2022 | points |
Voice and accountability | -0.24 | 2022 | points |
Political stability | 0.67 | 2022 | points |
Corruption perceptions - Transparency International | 39 | 2023 | points |
Political rights | 4 | 2024 | points |
Civil liberties | 5 | 2024 | points |
Cost of starting a business | 4.10 | 2019 | percent of per capita GNI |
Shadow economy | 20.65 | 2015 | percent |
Informal economy, MIMIC method | 31.00 | 2020 | percent |
Informal economy, DGE method | 22.70 | 2020 | percent |