Urban challenges: the formal and informal economies in mega-cities

There is a sense in which the formal and informal economies in mega-cities are taken for granted. The bulk of the literature focuses on the characteristics and problems of the latter. It is crucial, however, that they should not be examined and analysed as separate entities. Rather, it should be ack...

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Bibliographic Details
Published in:Cities 2004-12, Vol.21 (6), p.501-511
Main Author: Daniels, P.W.
Format: Article
Language:English
Subjects:
Cities
Entrepreneurship
Human capital
Informal sector
Regulation
Urban growth
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Summary:There is a sense in which the formal and informal economies in mega-cities are taken for granted. The bulk of the literature focuses on the characteristics and problems of the latter. It is crucial, however, that they should not be examined and analysed as separate entities. Rather, it should be acknowledged at the outset that the activities that are normally considered part of the informal economy are often in one way or another linked to the activities in the formal economy. Other reasons for stressing the interconnectedness of the informal and formal sectors in cities are outlined. Perhaps, the key to policy development is to recognise that both sectors incorporate creativity, entrepreneurial flair, and a general desire to harness human capital in ways that maximises its potential.
ISSN:0264-2751
1873-6084
DOI:10.1016/j.cities.2004.08.002