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Evaluating 'Varieties of Capitalism' by the Extent and Nature of the Informal Economy: The Case of South-Eastern Europe

Colin Williams, Abbi Kedir (), Meryem Fethi and Sara Nadin
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Meryem Fethi: School of Management, University of Leicester
Sara Nadin: School of Management, University of Sheffield

South-Eastern Europe Journal of Economics, 2012, vol. 10, issue 2, 113-130

Abstract: 'Varieties of capitalism' have been conventionally delineated by the varying types of formal economy that exist. Given that the vast majority of employment globally is in the informal economy, this paper offers a new analytical framework which delineates varieties of capitalism by their degree of informalization and the character of the informal economy. Examining South East Europe through this lens using evidence from a 2007 Eurobarometer survey, the finding is that this region is a 'quasi-formal market economy' and its informal economy composed largely of quasi-formal employment relations, albeit with significant variations in the degree and nature of the informal economy across different countries, sectors and population groups.

Keywords: Informal Economy; Varieties of Capitalism; Employment Relations; South-East Europe (search for similar items in EconPapers)
JEL-codes: E26 O17 (search for similar items in EconPapers)
Date: 2012
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