Is the Informal Sector Constrained from the Demand Side?
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World Bank, Washington, DC
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Employing a unique dataset that covers
households from six West African capitals, this paper
provides new evidence on the demand for informal sector
products and services. Authors first investigate whether
demand linkages exist between formal and informal products
and distribution channels. In a second step, authors
estimate demand elasticity's based on Engel curves.
Authors find strong demand-side linkages between the formal
and informal sector, with the exception that informal goods
are hardly bought through formal distribution channels. The
estimated demand elasticity's tend to show that rising
incomes are associated with a lower propensity to consume
informal sector goods and to use informal distribution channels.
Palabras clave
ACCESS TO CAPITAL, ACCESS TO CREDIT, ACCESS TO FINANCE, ACCESS TO FORMAL CREDIT, ACCOUNTS, ACCUMULATION RATE, ADVANCED ECONOMY, AGRICULTURAL ECONOMICS, BANK CREDIT, BANK POLICY, BARRIERS TO ENTRY, BIASES, BORROWING, BUSINESS ACTIVITIES, BUSINESS ACTIVITY, BUSINESS ASSOCIATIONS, BUSINESS ECONOMICS, BUSINESS OWNERS, BUSINESS RISK, CAPACITY BUILDING, CAPITAL ACCUMULATION, CAPITAL CONSTRAINT, CAPITAL COST, CAPITAL INJECTION, CAPITAL MARKET, CAPITAL REQUIREMENTS, CAPITAL RETURNS, CAPITAL SHORTAGES, CAPITAL STOCK, CHECKS, COLLATERAL, CONTRACTUAL OBLIGATIONS, COST OF CAPITAL, CREDIT CONSTRAINED FIRMS, CREDIT CONSTRAINT, CREDIT HISTORY, CREDIT INSTITUTIONS, CREDIT MARKET, CREDIT RATIONING, DEGREES OF RISK, DEMOGRAPHIC CHARACTERISTICS, DEVELOPING COUNTRY, DEVELOPMENT ECONOMICS, DIVERSIFICATION, DUMMY VARIABLE, DURABLE, DURABLE GOODS, EARNINGS, ECONOMETRIC MODELS, ECONOMIC CONSTRAINTS, ECONOMIC DEVELOPMENT, ECONOMIC GROWTH, ECONOMIC POLICIES, ECONOMIC STATISTICS, ENDOWMENTS, ENTERPRISE PERFORMANCE, ENTREPRENEUR, ENTREPRENEURIAL ACTIVITY, ENTRY BARRIERS, EQUIPMENT, EXCESSIVE RISK, EXPECTED UTILITY, EXPECTED VALUE, EXPENDITURE, EXPENDITURES, EXTERNAL FINANCE, FAMILY FINANCE, FAMILY LOANS, FARMERS, FEMALE ENTREPRENEURS, FINANCIAL MEANS, FINANCIAL RESOURCES, FINANCIAL SUPPORT, FIXED COSTS, FORMAL BANKS, GDP, GROUP OF FIRMS, GROWTH THEORY, HIGH INTEREST RATES, HOLDING, HOUSEHOLD WEALTH, HOUSEHOLDS, HUMAN CAPITAL, INCOME GROWTH, INFORMATION ASYMMETRIES, INFORMATION ON ENTREPRENEURS, INFORMATION ON INVESTMENT, INSTRUMENT, INSURANCE, INSURANCE MARKET, INSURANCE PRODUCTS, INTEREST RATE, INTERNAL FINANCE, INTERNAL FUNDS, INVENTORY, INVESTING, INVESTMENT BEHAVIOR, JOB CREATION, LABOR FORCE SURVEY, LABOR MARKET, LACK OF ACCESS, LEVEL OF RISK, LIQUID WEALTH, LIQUIDITY, LIQUIDITY CONSTRAINT, LIQUIDITY PREMIUM, LIQUIDITY PROBLEMS, LOAN, LOTTERY, MARGINAL COST, MARGINAL PRODUCT, MARGINAL UTILITY, MARGINAL UTILITY OF CONSUMPTION, MARKET CONSTRAINTS, MARKET ECONOMY, MARKET FAILURE, MARKET INTEREST RATE, MICRO DATA, MICRO ENTERPRISES, MICRO-CREDIT, MICRO-ENTERPRISE, MICRO-FINANCE, MICRO-FINANCE INSTITUTIONS, MICROCREDIT, MICROENTERPRISES, MIDDLE INCOME COUNTRIES, MONEY LENDERS, MORAL HAZARD, OPPORTUNITY COST, PHYSICAL CAPITAL, POLITICAL ECONOMY, PORTFOLIO, PRICE RISK, PRICE UNCERTAINTY, PRODUCTION FUNCTION, PRODUCTIVE INVESTMENT, PROFITABILITY, PURCHASING POWER, PURCHASING POWER PARITY, RATE OF RETURN, RATES OF RETURN, RECEIPTS, REINVESTMENT, RETAINED EARNINGS, RISK AVERSION, RISK PERCEPTIONS, RISK PREMIUM, RISK-AVERSE INDIVIDUALS, SAFE ASSET, SAVINGS, SELF-EMPLOYMENT, SMALL BUSINESS, SMALL ENTERPRISES, SMALL-SCALE ENTREPRENEURS, SOURCE OF CREDIT, SOURCES OF FINANCE, START-UP, TAX, TAXIS, TRADE SECTOR, TRADING, TRANSITION COUNTRY, TRANSITION ECONOMY, TRUST FUND, UNION, VALUE ADDED, WEALTH