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  • 5 - The Informal Economy: CSR and Sustainable Development

  • from Part I - Institutions, CSR Conceptualizations and Sustainable Development
  • Edited by Onyeka Osuji, University of Essex, Franklin N. Ngwu, Dima Jamali, American University of Beirut
  • Book:
    Corporate Social Responsibility in Developing and Emerging Markets
    Published online:
    18 December 2019
    Print publication:
    19 December 2019, pp 85-97

  • Summary

    CSR and sustainability practices play a significant role across diverse sectors of an economy. This chapter examines corporate social responsibility and sustainable development in the informal economy. Through the review of the literature, the chapter establishes that unregistered micro, small, and medium enterprises mainly dominate the informal sector particularly in developing and emerging economies. The low degree of formalisation and other specific attributes common to small and medium enterprises (SMEs) operating in the informal sector, influence their CSR approach and strategies. The chapter discusses the need to build social capital (trust, reputation and legitimacy) and culture as motivating factors that promote SMEs involvement in CSR practices, while legislation and institutional context are major drivers of sustainability practices. The chapter highlights how the informal economy, particularly in the context of SMEs, can be positioned to be more socially and environmentally responsible.