Beyond Regulation: The Informal Economy in Latin America

Beyond Regulation: The Informal Economy in Latin America

ISBN: 9781555873189
Publisher: Lynne Rienner Pub
Edition: First Edition
Publication Date: 1992-10
Number of pages: 350
  • $27.64

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There has been much discussion in recent years about the legal and institutional obstacles to "formalising" the informal economies of Latin American countries, and it has been strongly maintained that government intervention through extreme regulation and bureaucratic constraints imposes high financial costs on the activities on informal producers. The authors of this book contest conventional wisdom, arguing, on the basis of research, that the costs imposed by the existing legal and regulatory framework are not nearly as great as is often claimed. Among the findings of the study are that there are semilegal (or semiillegal) activities in both the formal and informal sectors; that time and financial costs to the informal sector vary widely among countries, with no clear relationship to the legal/regulatory context; and that, while it is true that certain costs are caused by inadequate or useless formalities or regulations, others are legitimate and essential.

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