Panama: Informal economy, DGE method

* indicates monthly or quarterly data series
 Panama

Informal economy, DGE method

 Latest value 44.00
 Year 2020
 Measure percent
 Data availability 1990 - 2020
 Average 57.51
 Min - Max 44.00 - 66.70
 Source Informal economy database
The latest value from 2020 is 44 percent, unchanged from 44 percent in 2019. In comparison, the world average is 28.16 percent, based on data from 156 countries. Historically, the average for Panama from 1990 to 2020 is 57.51 percent. The minimum value, 44 percent, was reached in 2019 while the maximum of 66.7 percent was recorded in 1992. 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 data
Panama - Informal economy, DGE method - Recent values chart

Historical series
Panama - 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.

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 Related indicators Latest Reference Measure
 Rule of law -0.35 2023 points
 Government effectiveness -0.21 2023 points
 Control of corruption -0.63 2023 points
 Regulatory quality 0.12 2023 points
 Voice and accountability 0.55 2023 points
 Political stability 0.21 2023 points
 Corruption perceptions - Transparency International 35 2023 points
 Political rights 2 2024 points
 Civil liberties 2 2024 points
 Competitiveness 61.60 2019 points
 Cost of starting a business 5.80 2019 percent of per capita GNI
 Informal economy, MIMIC method 60.20 2020 percent
 Informal economy, DGE method 44.00 2020 percent
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