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Book chapter
Formal but Illegitimate? Examining the Mongrel Economy
De Gruyter Handbook of SME Entrepreneurship, pp.41-56
De Gruyter Handbooks in Business, Economics and Finance, De Gruyter
2023
Abstract
This chapter extends research examining economies in which SMEs operate. We propose the presence of the mongrel economy (i.e., comprised of legal but illegitimate businesses). We discuss implications of this economy and its similarities and differences from the formal and informal economies proposed by Webb et al. (2009). In this conceptual chapter, we investigate how SMEs are connected to the mongrel economy and how constituent associations can be used as low-cost legitimacy tools (Austin et al., 2006; Murphy et al., 2007). Other forms of economies are discussed to provide clarity on how various economies operate, thus contrasting economies to illustrate their differences. Future directions of research related to the informal and mongrel economies are provided. Additionally, specific opportunities for SMEs in the mongrel economy are presented.
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Details
- Title
- Formal but Illegitimate? Examining the Mongrel Economy
- Publication Details
- De Gruyter Handbook of SME Entrepreneurship, pp.41-56
- Resource Type
- Book chapter
- Publisher
- De Gruyter; Berlin, Boston
- Series
- De Gruyter Handbooks in Business, Economics and Finance
- Number of pages
- 16
- Copyright
- © 2023 Walter de Gruyter GmbH, Berlin/Boston
- Identifiers
- 99380473297206600
- Academic Unit
- Business Administration; Lewis Bear Jr. College of Business
- Language
- English