How to Encourage Enterprise Formalization : Some Practical Hints for Policymakers in Africa

This policy note takes as its starting point the common view that there are benefits and costs to formal status and that formalization will occur only if entrepreneurs perceive it to be in their self-interest. No doubt part of the answer lies in re...

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Main Author:	Kenyon, Thomas
Format:	Policy Note
Language:	English en_US
Published:	Washington, DC : World Bank 2022
Subjects:	ENTERPRISE FORMALIZATION SHADOW ECONOMIES INFORMAL ENTERPRISE STATE-SPONSORED INSTITUTIONS BENEFITS AND COSTS COMPLIANCE INSTITUTIONAL MECHANISM LACK OF INFORMATION INTERMEDIARIES CREDIBILITY INCENTIVES
Online Access:	http://documents.worldbank.org/curated/en/409121468203048558/How-to-encourage-enterprise-formalization-some-practical-hints-for-policymakers-in-Africa http://hdl.handle.net/10986/37377

id	okr-10986-37377
recordtype	oai_dc
spelling	okr-10986-373772022-05-05T05:10:36Z How to Encourage Enterprise Formalization : Some Practical Hints for Policymakers in Africa Kenyon, Thomas ENTERPRISE FORMALIZATION SHADOW ECONOMIES INFORMAL ENTERPRISE STATE-SPONSORED INSTITUTIONS BENEFITS AND COSTS COMPLIANCE INSTITUTIONAL MECHANISM LACK OF INFORMATION INTERMEDIARIES CREDIBILITY INCENTIVES This policy note takes as its starting point the common view that there are benefits and costs to formal status and that formalization will occur only if entrepreneurs perceive it to be in their self-interest. No doubt part of the answer lies in reducing the costs and time required for compliance -- as the World Bank's Doing Business project has documented. But lowering barriers to entry is unlikely to be sufficient. Encouraging formalization requires us to understand the relationship between state and private business as a bargain. And it also challenges policy-makers and development practitioners to think not only about technical solutions but also about institutional mechanisms for improving relations between entrepreneurs and the state. 2022-05-04T15:58:26Z 2022-05-04T15:58:26Z 2007-06 Policy Note http://documents.worldbank.org/curated/en/409121468203048558/How-to-encourage-enterprise-formalization-some-practical-hints-for-policymakers-in-Africa http://hdl.handle.net/10986/37377 English en_US FIAS Policy Note; CC BY 3.0 IGO http://creativecommons.org/licenses/by/3.0/igo World Bank Washington, DC : World Bank Economic & Sector Work Economic & Sector Work :: Policy Note Africa
repository_type	Digital Repository
institution_category	Foreign Institution
institution	Digital Repositories
building	World Bank Open Knowledge Repository
collection	World Bank
language	English en_US
topic	ENTERPRISE FORMALIZATION SHADOW ECONOMIES INFORMAL ENTERPRISE STATE-SPONSORED INSTITUTIONS BENEFITS AND COSTS COMPLIANCE INSTITUTIONAL MECHANISM LACK OF INFORMATION INTERMEDIARIES CREDIBILITY INCENTIVES
spellingShingle	ENTERPRISE FORMALIZATION SHADOW ECONOMIES INFORMAL ENTERPRISE STATE-SPONSORED INSTITUTIONS BENEFITS AND COSTS COMPLIANCE INSTITUTIONAL MECHANISM LACK OF INFORMATION INTERMEDIARIES CREDIBILITY INCENTIVES Kenyon, Thomas How to Encourage Enterprise Formalization : Some Practical Hints for Policymakers in Africa
geographic_facet	Africa
relation	FIAS Policy Note;
description	This policy note takes as its starting point the common view that there are benefits and costs to formal status and that formalization will occur only if entrepreneurs perceive it to be in their self-interest. No doubt part of the answer lies in reducing the costs and time required for compliance -- as the World Bank's Doing Business project has documented. But lowering barriers to entry is unlikely to be sufficient. Encouraging formalization requires us to understand the relationship between state and private business as a bargain. And it also challenges policy-makers and development practitioners to think not only about technical solutions but also about institutional mechanisms for improving relations between entrepreneurs and the state.
format	Policy Note
author	Kenyon, Thomas
author_facet	Kenyon, Thomas
author_sort	Kenyon, Thomas
title	How to Encourage Enterprise Formalization : Some Practical Hints for Policymakers in Africa
title_short	How to Encourage Enterprise Formalization : Some Practical Hints for Policymakers in Africa
title_full	How to Encourage Enterprise Formalization : Some Practical Hints for Policymakers in Africa
title_fullStr	How to Encourage Enterprise Formalization : Some Practical Hints for Policymakers in Africa
title_full_unstemmed	How to Encourage Enterprise Formalization : Some Practical Hints for Policymakers in Africa
title_sort	how to encourage enterprise formalization : some practical hints for policymakers in africa
publisher	Washington, DC : World Bank
publishDate	2022
url	http://documents.worldbank.org/curated/en/409121468203048558/How-to-encourage-enterprise-formalization-some-practical-hints-for-policymakers-in-Africa http://hdl.handle.net/10986/37377
_version_	1764484486893928448

How to Encourage Enterprise Formalization : Some Practical Hints for Policymakers in Africa

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