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Cited by 32Indian Economic and Social DevelopmentPolitical Economy and MarxismEconomic Theory and Institutions

Comparative capitalism and emerging economies: formal-informal economy interlockages and implications for institutional analysis

Hammer, Anita·2019·Review of International Political Economy
DOI 10.1080/09692290.2018.1554537
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Abstract

Research in comparative capitalism has seen an increasing interest in emerging economies and has made attempts at integrating the informal economy as a distinct and significant feature of the institutional configuration and reproduction of contemporary capitalisms. The way this has been achieved, however, is problematic as it has mainly worked with a dualist notion of the formal and informal economies, thereby making it difficult to conceptualise any interlinkages. This article argues that the relation between the formal and informal economies needs to be conceptualised as an interlocking one in order to analyse the constitutive place the informal economy has in the dynamics of formal institutions as well as the overall institutional configuration of emerging capitalisms. A focus on interlockages helps in conceptualising diversity, by bringing the heterogeneity of social relations within the formal and informal economies to the fore. This focus also allows for a more nuanced understanding of the distribution of resources across institutions and actors, and how change is shaped by struggles within specific interlocking configurations. India serves as a useful example in this respect insofar as the centrality of the informal economy to Indian capitalism can be shown to be due to the specific interlockages as opposed to the, probably more eye catching, size of its informal economy.

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Authors
Hammer, A.
Affiliations
De Montfort University (GB)
Corresponding author
Hammer, Anita
ORCID
Hammer, Anita
Venue
Review of International Political Economy
Publisher
Informa UK Limited
Published
2019-03-04
Volume
26
Issue
2
Pages
337-360
ISSN
  • 0969-2290 (ISSN-L)
  • 1466-4526
DOI
10.1080/09692290.2018.1554537
OpenAlex
W2899030370
Cited by
32
References
87
Citations by year
2026: 2 · 2025: 3 · 2024: 2 · 2023: 4 · 2022: 5 · 2021: 13 · 2020: 1 · 2019: 2
FWCI
6.56
Type
journal article
Language
en
Open access
closed
Locations
  • Review of International Political Economy (publishedVersion)
  • DMU Open Research Archive (De Montfort University) (acceptedVersion)
  • RePEc: Research Papers in Economics (submittedVersion)
  • DMU Open Research Archive (De Montfort University) (submittedVersion)
Topics
  • Social Sciences › Economics, Econometrics and Finance › Economics and Econometrics › Indian Economic and Social Development
  • Social Sciences › Sociology and Political Science › Political Economy and Marxism
  • Social Sciences › Economics, Econometrics and Finance › Economics and Econometrics › Economic Theory and Institutions
Keywords
comparative capitalism, emerging markets, informal economy, institutional configuration, interpersonal relationships, resource allocation, institutional change

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