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The minimum wage policy has been insufficient to attack the structural problems of the labor market. It has eclipsed the need to discuss more structural aspects of the economy that allow for a more robust labor market and a horizon for creating jobs with better remuneration.
One of the factors of the greatest upheaval to a country’s economic prospects is the substantial presence of the informal economy. The aim of this paper is to articulate a detailed statistical approach to identify the significance of such factors by examining key econometric strategies and availing ourselves of several diff…
