Exam (elaborations)
ECS3707 - Development Economics Assignment 02 S1&S2 Year 2021 TL001
- Institution
- University Of South Africa (Unisa)
ECS3707 - Development Economics (ECS3707)
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, ECS3707: DEVELOPMENT ECONOMICS
ASSIGNMENT TWO
S1 & S2 YEAR 2021
Explain the impact of Covid-19 on the informal sector in South Africa by
discussing the advantages and disadvantages of the sector, interventions and
strategies that the South African government is using and can still use to
recover the sector. (50 marks)
Introduction
Informal sector The part of the urban economy of developing countries characterized
by small competitive individual or family firms, petty retail trade and services labour-
intensive methods, free entry, and market-determined factor and product prices. The
existence of an unorganized, unregulated, and mostly legal but unregistered informal
sector was recognized in the 1970s, following observations in several developing
countries that massive additions to the urban labour force failed
to show up in formal modern-sector unemployment statistics.
Contextual background
The bulk of new entrants to the urban labour force seemed to create their own
employment or to work for small-scale family-owned enterprises. The self-employed
were engaged in a remarkable array of activities, ranging from hawking, street
vending, letter writing, knife sharpening, and junk collecting to selling fireworks,
prostitution, drug peddling, and snake charming. Others found jobs as mechanics,
carpenters, small artisans, barbers, and personal servants.
Still others were highly successful small-scale entrepreneurs with several employees
(mostly relatives) and higher incomes. Some could even eventually graduate to the
formal sector, where they became legally registered, licensed, and subject to
government labour regulations. With the unprecedented rate of growth of the urban
population in developing countries expected to continue and with the increasing
failure of the rural and urban formal sectors to absorb additions to the labour force,
more attention is being devoted to the role of the informal sector in serving as a
panacea for the growing unemployment problem. The informal sector continues to
play an important role in developing countries, despite decades of benign neglect
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