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연구정보

[경영] Formal Registration and Informal Firms in Cambodia

캄보디아 국외연구자료 연구보고서 - IDE-Jetro 발간일 : 2021-02-17 등록일 : 2022-02-25 원문링크

This paper estimates the impact of formal registration on firm-level performance. I construct a unique panel dataset on both formally registered and unregistered establishments in Cambodia for 2011 and 2014. The sample includes 8,350 informal firms in 2011, of which 216 firms obtained a formal registration in 2014. To mitigate selection bias, I employ a difference-in-differences method combined with propensity-score matching and a propensity-score-weighted regression method. My results show a significantly positive impact of formalization on sales and value added, but little significant effect on labor productivity. Formalization increases non-wage expenditures significantly, consistent with the hypothesis that formalized firms increase their purchases from other formal firms to benefit from Cambodia’s value added tax system.

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