Informal Sector and the Economy in Sri Lanka: A Survey of Literature
It is customary to include all economic activities that are not officially regulated as informal sector activities. The usual definitions used to distinguish the informal sector from the formal one appear to be problematic or fussy at their edges. This dichotomy is not mutually exclusive as often th...
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University of Economics Ho Chi Minh City
2023
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oai:scholar.dlu.edu.vn:DLU123456789-1154752023-03-08T03:56:22Z Informal Sector and the Economy in Sri Lanka: A Survey of Literature S., M. P. Senanayake W., Wimalaratana S., P. Premaratne It is customary to include all economic activities that are not officially regulated as informal sector activities. The usual definitions used to distinguish the informal sector from the formal one appear to be problematic or fussy at their edges. This dichotomy is not mutually exclusive as often thought but is in fact interdependent in many respects. It is also argued that informal enterprises often move upwards in a hierarchy of organizational forms and finally end up as formal sector units through vertical linkages. The informal sector provides jobs for very vulnerable low-income groups in rural and urban sectors while contributing to the GDP immensely in developing countries. This paper critically examines the nature of the informal sector in Sri Lanka and studies the links between the informal sector and its economy. The analysis entirely employs secondary data and information. The findings of the study demonstrate that the domestic (traditional) agriculture and related activities in Sri Lanka are dominated by the informal sector, which in turn is further strengthened by underworld activities. The fear of tax burden, bribes, bureaucratic bungling, archaic rules and regulations, and lack of dividends in formal activities drive many people from the formal sector to the informal one. The informal sector provides jobs and reduces unemployment and underemployment, but in many cases the jobs are low paying and job security is poor. It bolsters entrepreneurial activities, but at the detriment of state regulations’ compliance, particularly regarding tax and labor regulations. 2023-03-08T03:56:22Z 2023-03-08T03:56:22Z 2015 Article 2615-9112 http://jabes.ueh.edu.vn/Home/SearchArticle?article_Id=4d7dc7ab-59b4-4af1-b42a-d7f5bcbd4e2b http://scholar.dlu.edu.vn/thuvienso/handle/DLU123456789/115475 10.24311/jabes/2015.22.3.07 en Journal of Asian Business and Economic Studies, Volume 22, Issue 03; p. 141-160 application/pdf University of Economics Ho Chi Minh City |
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Thư viện Trường Đại học Đà Lạt |
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Thư viện số |
| language |
English |
| description |
It is customary to include all economic activities that are not officially regulated as informal sector activities. The usual definitions used to distinguish the informal sector from the formal one appear to be problematic or fussy at their edges. This dichotomy is not mutually exclusive as often thought but is in fact interdependent in many respects. It is also argued that informal enterprises often move upwards in a hierarchy of organizational forms and finally end up as formal sector units through vertical linkages. The informal sector provides jobs for very vulnerable low-income groups in rural and urban sectors while contributing to the GDP immensely in developing countries. This paper critically examines the nature of the informal sector in Sri Lanka and studies the links between the informal sector and its economy. The analysis entirely employs secondary data and information. The findings of the study demonstrate that the domestic (traditional) agriculture and related activities in Sri Lanka are dominated by the informal sector, which in turn is further strengthened by underworld activities. The fear of tax burden, bribes, bureaucratic bungling, archaic rules and regulations, and lack of dividends in formal activities drive many people from the formal sector to the informal one. The informal sector provides jobs and reduces unemployment and underemployment, but in many cases the jobs are low paying and job security is poor. It bolsters entrepreneurial activities, but at the detriment of state regulations’ compliance, particularly regarding tax and labor regulations. |
| format |
Article |
| author |
S., M. P. Senanayake W., Wimalaratana S., P. Premaratne |
| spellingShingle |
S., M. P. Senanayake W., Wimalaratana S., P. Premaratne Informal Sector and the Economy in Sri Lanka: A Survey of Literature |
| author_facet |
S., M. P. Senanayake W., Wimalaratana S., P. Premaratne |
| author_sort |
S., M. P. Senanayake |
| title |
Informal Sector and the Economy in Sri Lanka: A Survey of Literature |
| title_short |
Informal Sector and the Economy in Sri Lanka: A Survey of Literature |
| title_full |
Informal Sector and the Economy in Sri Lanka: A Survey of Literature |
| title_fullStr |
Informal Sector and the Economy in Sri Lanka: A Survey of Literature |
| title_full_unstemmed |
Informal Sector and the Economy in Sri Lanka: A Survey of Literature |
| title_sort |
informal sector and the economy in sri lanka: a survey of literature |
| publisher |
University of Economics Ho Chi Minh City |
| publishDate |
2023 |
| url |
http://jabes.ueh.edu.vn/Home/SearchArticle?article_Id=4d7dc7ab-59b4-4af1-b42a-d7f5bcbd4e2b http://scholar.dlu.edu.vn/thuvienso/handle/DLU123456789/115475 |
| _version_ |
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