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Purchasing from Informal Markets: Evidence from Serbia

Author

Listed:
  • Barry Reilly
  • Gorana Krstic
  • Matteo Cominetta

Abstract

This paper exploits a relatively unique survey conducted in Serbia in late 2000 to examine the determinants of expenditures on goods and services provided through informal outlets. The research reported in this paper adds to a relatively small existing literature on the topic. The empirical analysis is tentatively situated within the context of an Engel curve approach and the influence of informal ‘networks’ on purchasing behaviour is assessed. Our empirical analysis suggests that the share of purchases from informal markets is inversely related to income and there is a strong role for ‘network’ effects.

Suggested Citation

  • Barry Reilly & Gorana Krstic & Matteo Cominetta, 2006. "Purchasing from Informal Markets: Evidence from Serbia," Applied Economics Quarterly (formerly: Konjunkturpolitik), Duncker & Humblot, Berlin, vol. 52(3), pages 30-50.
    • Handle: RePEc:aeq:aeqaeq:v52_y2006_i3_q3_p30-50
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    More about this item

    Keywords

    Informal Sector Purchases; Serbia; Interval Regression;
    All these keywords.

    JEL classification:

    • C25 - Mathematical and Quantitative Methods - - Single Equation Models; Single Variables - - - Discrete Regression and Qualitative Choice Models; Discrete Regressors; Proportions; Probabilities
    • O17 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Formal and Informal Sectors; Shadow Economy; Institutional Arrangements
    • P36 - Political Economy and Comparative Economic Systems - - Socialist Institutions and Their Transitions - - - Consumer Economics; Health; Education and Training; Welfare, Income, Wealth, and Poverty

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