The “informal” economy economic activity and income outside
government regulation, taxation and observation is, by its very
nature, difficult to quantify. Recent estimates suggest it accounts,
in OECD countries, for around 13% of national income (in the UK, the
equivalent of £150 billion) and in developing nations it can make up
as much as three-quarters of all non-agricultural employment. Whatever
the exact figures, it is clear that the informal economy plays a
significant role in national incomes (eventhough excluded from
calculations of GDP or GNP) and affects a large share of the global
workforce. Colin C. Williams provides an authoritative introduction to
the topic, explaining what the informal economy is (and what it
isn’t) and how it can best be measured. Taking a global perspective,
he examines its characteristics in developed, developing and
transitional economies, and looks at its role as a driver of economic
growth. The theoretical underpinnings are explored, from conceptual
origins in the development models of the 1950s, through to present-day
discussions, which question whether a formalised economy is always the
ideal. The book considers the economic motivations of the informal
economy workforce, which may include tax evasion, circumventing
regulations and maintaining state benefits, and assesses the different
policy options available to governments to combat them, whether a
punitive policy of deterrence, or one of accommodation that recognises
the value of the sector in generating income and in meeting the needs
of poor consumers. The book provides a masterly summation of the
published research on the informal economy and an expert assessment of
the key areas for research going forward. It will be welcomed by
students taking courses in development economics, economic growth,
labour economics, welfare economics and public policy.
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Produktdetaljer
ISBN
9781911116325
Publisert
2020
Utgave
1. utgave
Utgiver
Vendor
Agenda Publishing
Språk
Product language
Engelsk
Format
Product format
Digital bok
Forfatter