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What 45 Years of Data Tells Us About Globalization’s Influence on the Shadow Economy

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The shadow sector, or informal economy, includes everything from illicit sidewalk sales of counterfeit handbags to large corporations that evade taxes and ignore regulations. It makes up a substantial portion of the global economy. The OECD estimated in 2009 that 1.8 billion workers participated in this sector, generating over $10 trillion in goods and services. Indeed, in many countries the number of people employed informally exceeds the number in the formal workplace.

Read more at Harvard Business Review.

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