Full Description
This book bridges the gap between theoretical and empirical understandings of the informal sector to provide insight into the role of the informal sector within the development process. By analysing three economic sectors, it sets out a framework for analysing urbanisation, rural-urban migration, agriculture- industry relationship, income inequality, structural change, employment, and optimal growth. Through highlighting the economic contribution of the informal sector, its impact on the national output and influence on the labour market is shown, alongside how employment opportunities in the informal sector drive rural and urban migration.
This book presents a nuanced understanding of the dynamics of the informal sector and its role in the development of economies. It will be of interest to researchers and policymakers working within development economics and growth economics.
Contents
1. A Survey of the Theoretical Literature on Rural-Urban Migration.- 2. A Model of a Less Developed Country (LDC): The Static Analysis.- 3. A Model of a Less Developed Country: The Dynamic Analysis.- 4. Further Implications.- 5. A Model of Optimal Development with an Informal Sector.- 6. A Model of a Developed Country (the DC Model).- 7. The Open Economy Considerations in the DC and LDC Models.- 8. A Test of Two Rival Migration Models.- 9. The Role of the Informal Sector in Structural Transformation: Some Indian Evidence.- 10. The Informal Sector and Rural-to-Urban Migration in India.- 11. Urbanisation and Rural-to-Urban Migration in Developing Countries.
