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This page on the Women in Informal Employment: Globalising and Organising website explores the two-way linkages between informality and growth: the impact of the informal economy on economic growth, and the impact of economic growth on the informal economy. How much and in what ways does the informal economy contribute to economic growth? Or does the informal economy account for low productivity and low growth? Does the size of the informal economy shrink during economic growth and expand during economic slumps or downturns? Is it, in other words, counter-cyclical or pro-cyclical?