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Issues and Prospects for the Study of Informal Economies: Concepts, Research Strategies, and Policy

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  • LOUIS A. FERMAN
  • STUART HENRY
  • MICHELE HOYMAN

Abstract

This article considers the current state of knowledge about informal economies. Criticism of the value of the informal economy concept is addressed by considering the multiple disciplinary interests in the topic, the confusion over an appropriate definition, and the problems of classification and explanation. A multidisciplinary, macro-micro approach is suggested. The joint ethnography-sruvey method has been found to be the most productive research tool for empirical study, and the principles of such methodology are outlined. In the context of a discussion on the politics of research funding, major areas for future research are identified. These include historical surveys; local-area studies; changing household work patterns in relation to the wider formal economy; informal work and illegal markets; class, ethnic, and sexual composition of the participants; informal institutions, particularly information and skill exchanges; media and their representation of the informal economy; and the role of informal economies in coping with national disasters. Finally, the implications of the informal economies for government policy on taxation, labor, welfare, and crime and criminal justice are drawn out.

Suggested Citation

  • Louis A. Ferman & Stuart Henry & Michele Hoyman, 1987. "Issues and Prospects for the Study of Informal Economies: Concepts, Research Strategies, and Policy," The ANNALS of the American Academy of Political and Social Science, , vol. 493(1), pages 154-172, September.
    • Handle: RePEc:sae:anname:v:493:y:1987:i:1:p:154-172
    DOI: 10.1177/0002716287493001011
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    3. Frey, Bruno S. & Weck-Hanneman, Hannelore, 1984. "The hidden economy as an 'unobserved' variable," European Economic Review, Elsevier, vol. 26(1-2), pages 33-53.
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