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Informal Sector Dynamics in Times of Fragile Growth: the Case of Madagascar

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Date
2014
Dewey
Croissance et développement économiques
Sujet
Madagascar; micro-entreprises; Firm growth; croissance des firmes; Capital returns; informal sector; rendement du capital; secteur informel; Microenterprise
JEL code
O.O1.O12; O.O1.O17; L.L2.L26; D.D2.D20
Journal issue
European Journal of Development Research
Volume
26
Number
4
Publication date
2014
Article pages
437-455
Publisher
Frank Cass
DOI
http://dx.doi.org/10.1057/ejdr.2014.29
URI
https://basepub.dauphine.fr/handle/123456789/7079
Collections
  • LEDa : Publications
Metadata
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Author
Grimm, Michael
108657 Erasmus University Rotterdam
Lann, Jay
147383 GIGA German Institute of Global and Area Studies
Roubaud, François
163511 Laboratoire d'Economie de Dauphine [LEDa]
Vaillant, Julia
163511 Laboratoire d'Economie de Dauphine [LEDa]
Type
Article accepté pour publication ou publié
Abstract (EN)
This article examines the dynamics of the informal sector in Madagascar during the 1995-2004 period, which was characterized by sustained growth that ended due to a major political crisis. As conventionally assumed by simple dualistic models, the informal sector indeed fulfils a labor-absorbing function in times of crisis. However, informal business creation was also a major trend both during macroeconomic growth and during crisis and recovery. Growth in the informal sector was mostly extensive, with little job creation or capital accumulation. Although such a situation would be consistent with the existence of poverty traps, estimated marginal returns to capital are decreasing, which tends to reject this hypothesis.

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