ISSN (Print) - 0012-9976 | ISSN (Online) - 2349-8846

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Understanding the Informal Sector

says that "industrialisation is not only about getting prices right; it is also about getting state intervention right". As he puts it, in a world of uneven development, rapid technical progress, ever-changing comparative advantage and imperfect market structures, the role of government in industrialisation remains vital Human resource development, acquisition of technological and managerial capabilities and the creation of institutions 'INFORMAL SECTOR' is a term in the development economics literature which has been used extensively by scholars despite severe criticisms. The volume under review is a fruitful attempt in such usage. I call it 'fruitful' because while the term is used without bothering too much about a clear understanding of its characteristics, the book succeeds in integrating various issues and in interpreting the term in an operationally meaningful way.

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