Abstract
The informal economy refers to the paid production and sale of goods and services which are unregistered by, or hidden from, the state for tax and/or benefit purposes but which may still be legal in all other respects (European Commission, 1998; Portes, 1994; Thomas, 1992; Williams and Windebank, 1998). As such, the informal economy includes only paid work that is illegal because of its non-declaration to the state for tax and/or social security purposes. Paid work in which the good and/or service itself is illegal (e.g. drug trafficking) is thus considered unpaid work (Williams, 2007).
| Original language | English |
|---|---|
| Title of host publication | Entrepreneurship marketing |
| Subtitle of host publication | principles and practice of SME marketing |
| Editors | Sonny Nwankwo, Ayantunji Gbadamosi |
| Place of Publication | Abingdon |
| Publisher | Routledge |
| Chapter | 26 |
| Pages | 418-433 |
| Number of pages | 16 |
| ISBN (Electronic) | 9780203838648 |
| ISBN (Print) | 9780415573764, 9780415573757 |
| DOIs | |
| Publication status | Published - 26 Nov 2010 |
| Externally published | Yes |
