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Labor Informality and Credit Market Accessibility

出版	SSRN, 2023
URL	http://books.google.com.hk/books?id=0_s10AEACAAJ&hl=&source=gbs_api

註釋This study investigates how credit market growth affects the mobility of workers between formal and informal work sectors in Russia. Formal lenders determine credit limits based on verified income, while informal workers must formalise their income to qualify for a loan. Using RLMS data and a dynamic multinomial logit model of employment, the study finds that relaxing credit restrictions increases the likelihood of transitioning from informal to formal work. Specifically, a one-standard-deviation improvement in credit market access increases informal workers' chance to formalise by 5.4 percentage points. The findings are robust across different model specifications, and simulations indicate that better credit market access can reduce informal employment.