Harnessing Enterprise and Entrepreneurship in the Underground Economy

International Journal of Economic Development, Volume Six, Number 2, 2004

31 Pages Posted: 27 Dec 2015

See all articles by Colin Williams

Colin Williams

University of Sheffield - School of Management

Date Written: 2004

Abstract

The starting point of this paper is a recognition that the current deterrence approach towards underground work fails to recognize either the potential asset that enterprise and entrepreneurship in the underground economy represents in western economies or the desire of governments to transfer this work into the formal economy rather than simply eradicate it. Responding to this emerging understanding of such underground enterprise and entrepreneurship as an asset, as well as recognizing the desire of governments to formalize such endeavor, the aim of this paper is to propose a more enabling approach towards the underground economy that supplements the current push (deterrence) initiatives with measures to pull this endeavor into the formal economy. A variety of pull (enabling) initiatives that might be used by this emergent approach to transfer underground enterprise and entrepreneurship into the formal economy are then set out.

Keywords: Informal sector, household work practices, livelihoods, economic development, England

JEL Classification: H26, J46, J48, K34, K42, O17

Suggested Citation

Williams, Colin, Harnessing Enterprise and Entrepreneurship in the Underground Economy (2004). International Journal of Economic Development, Volume Six, Number 2, 2004, Available at SSRN: https://ssrn.com/abstract=2708027

Colin Williams (Contact Author)

University of Sheffield - School of Management ( email )

15 Conduit Road
Sheffield, S10 1FL
United Kingdom

HOME PAGE: http://https://www.sheffield.ac.uk/management/staff/williams/index

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