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From the Second to the Informal Economy

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  • Sik, Endre

Abstract

This paper addresses two related questions: How has the transformation from a centrally planned to a market economy affected the second economy and how has the second economy influenced the transformation? The existence of a second economy compensating for some faults of the planned economy has been a contributing factor in the non-violent transformation of the Hungarian economy. Transformation is making the concepts of a first and second economy obsolete. The informal economy, which is replacing the second economy, differs from the latter in its degree of internalization, and in relying upon fulltime rather than part-time work. It is also increasing in size. The social impact of the informal economy is also different, increasing income inequality and regional disparities, thus replacing the gradations of social differences found in the multi-coloured activities of the second economy with sharper black and white differences. The analysis is illustrated with data from Hungary before and after the transformation.

Suggested Citation

  • Sik, Endre, 1992. "From the Second to the Informal Economy," Journal of Public Policy, Cambridge University Press, vol. 12(2), pages 153-175, April.
    • Handle: RePEc:cup:jnlpup:v:12:y:1992:i:02:p:153-175_00
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    1. repec:ilo:ilowps:355192 is not listed on IDEAS
    2. Jorge F. Pérez-López, 1999. "Corruption and the Cuban Transition," Annual Proceedings, The Association for the Study of the Cuban Economy, vol. 9.
    3. Ale? Rod & Klára ?ermáková, 2015. "Specifics of Operational funding of enterprises under centrally planned economy ? theory and praxis in Czechoslovakia before 1989," International Journal of Economic Sciences, International Institute of Social and Economic Sciences, vol. 4(3), pages 39-51, September.
    4. Bernabè, Sabine. & Singh, Andréa Menefee,, 2002. "A profile of informal employment : the case of Georgia," ILO Working Papers 993551923402676, International Labour Organization.
    5. Lackó, Mária, 2010. "A magyarországi rossz egészségi állapot lehetséges magyarázó tényezői. Összehasonlító makroelemzés magyar és osztrák adatok alapján, 1960-2004 [The poor health status of Hungarians: a comparative m," Közgazdasági Szemle (Economic Review - monthly of the Hungarian Academy of Sciences), Közgazdasági Szemle Alapítvány (Economic Review Foundation), vol. 0(9), pages 753-778.
    6. Sik, Endre, 1996. "Egy ló öszvér a lovakról és a szamarakról. Adalék a második gazdaság hazai eszmetörténetéhez [Horse-mule about horses and mules. A contribution to the history of ideas about the second economy in H," Közgazdasági Szemle (Economic Review - monthly of the Hungarian Academy of Sciences), Közgazdasági Szemle Alapítvány (Economic Review Foundation), vol. 0(7), pages 704-725.

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