Entrepreneurial Responses to Austerity: The Role of the Informal Sector
Robert Ackrill and
NBS Discussion Papers in Economics from Economics, Nottingham Business School, Nottingham Trent University
Limited welfare systems and employment opportunities in the formal sector in many developing countries imply that individuals often seek employment opportunities in the informal sector to mitigate adverse economic circumstances. In this paper, we investigate whether entrepreneurial activity increases during such challenging economic times. We utilise a survey conducted in an emerging market economy to explore the motives for participation in, and the consequences of, the increase in informal economic activity. We find evidence of increased entrepreneurship during periods of austerity policies and posit on the potential effects on economic welfare in developing economies. We conclude by highlighting related-policy issues.
Keywords: Austerity; Entrepreneurship; Informal Economy; Nigeria (search for similar items in EconPapers)
JEL-codes: E26 E65 O23 (search for similar items in EconPapers)
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Persistent link: https://EconPapers.repec.org/RePEc:nbs:wpaper:2017/09
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