Rethinking Formalisation: A Conceptual Critique and Research Agenda

The concept of ‘formalisation’ has been ubiquitous in development discourse and policymaking. It has underpinned policy interventions and proposals from tax registration to property titling, and a range of measures intended to connect informal entities with state institutions or formally structured markets. Despite the policy enthusiasm, however, the outcomes of formalisation policies have frequently been disappointing. Summary of Working Paper 127.