The Informal Economy in Global Perspective by Abel Polese Colin C. Williams Ioana A. Horodnic & Predrag Bejakovic

Author:Abel Polese, Colin C. Williams, Ioana A. Horodnic & Predrag Bejakovic
Language: eng
Format: epub
Publisher: Springer International Publishing, Cham

Quite often, rural businesses are founded with the clear intention to keep them small. Besides the limitations of capital endowment, the preference for being free and less dependent on the rules is also reported as a strong driver. Lifestyle entrepreneurs (making occasional sales through hobby activities) do not pursue growth and would most likely not react to a policy seeking formalization efforts.

Concluding Remarks

The chapter has provided a snapshot picture of some rationales for being involved in informal or semi-formal practices in post-socialist rural areas. The phenomenon can be better understood if a holistic livelihood approach is taken, which accounts for the specific rural properties. Special attention deserves to be given to farming and its profitability, the make-up of local formal and informal institutions and the preferences of decision-making individuals. Further research could extend and validate the understanding of rural informality in the post-socialist context and clarify if rural-specific policy measures are appropriate to tackle it.

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