%0 Journal Article
%9 ACL : Articles dans des revues avec comité de lecture répertoriées par l'AERES
%A Vaillant, Julia
%A Grimm, M.
%A Lay, J.
%A Roubaud, François
%T Informal sector dynamics in times of fragile growth : the case of Madagascar
%D 2014
%L fdi:010062530
%G ENG
%J European Journal of Development Research
%@ 0957-8811
%K informal sector ; microenterprise ; firm growth ; capital returns ; Madagascar
%K MADAGASCAR
%M ISI:000341122800004
%N 4
%P 437-455
%R 10.1057/ejdr.2014.29
%U https://www.documentation.ird.fr/hor/fdi:010062530
%> https://www.documentation.ird.fr/intranet/publi/2014/09/010062530.pdf
%V 26
%W Horizon (IRD)
%X This article examines the dynamics of the informal sector in Madagascar during the 1995-2004 period, which was characterized by sustained growth that ended due to a major political crisis. As conventionally assumed by simple dualistic models, the informal sector indeed fulfils a labor-absorbing function in times of crisis. However, informal business creation was also a major trend both during macroeconomic growth and during crisis and recovery. Growth in the informal sector was mostly extensive, with little job creation or capital accumulation. Although such a situation would be consistent with the existence of poverty traps, estimated marginal returns to capital are decreasing, which tends to reject this hypothesis.
%$ 095 ; 096