Template-Type: ReDIF-Paper 1.0
Author-Name: Eghosa Igudia
Author-Name: Robert Ackrill 
Author-Name: Simeon Coleman
Title: Entrepreneurial Responses to Austerity: The Role of the Informal Sector
Abstract: Limited welfare systems and employment opportunities in the formal sector in many developing countries imply that individuals often seek employment opportunities in the informal sector to mitigate adverse economic circumstances. 
In this paper, we investigate whether entrepreneurial activity increases during such challenging economic times. We utilise a survey conducted in an emerging market economy to explore the motives for participation in, 
and the consequences of, the increase in informal economic activity. We find evidence of increased entrepreneurship during periods of austerity policies and posit on the potential effects on economic welfare in developing economies. 
We conclude by highlighting related-policy issues.
File-URL: http://www.ntu.ac.uk/__data/assets/pdf_file/0033/455658/igudia-ackrill-coleman-wp-2017-9.pdf
File-Format: Application/pdf
File-Function: First version, 2017
Creation-Date: 2017-10
Classification-JEL: E26, E65, O23
Keywords: Austerity, Entrepreneurship, Informal Economy, Nigeria
Handle: RePEc:nbs:wpaper:2017/09