Navigating regulatory challenges within paratransit operations in Africa: balancing safety and socio-economic equity

Drawing on insights from dualistic economic theory, the dynamics of informal markets, and institutional roles in economic growth, the authors emphasize the need for nuanced and evidence-based policy approaches. Through the application of key theoretical frameworks—including the Lewis Model, segmented labour market theory, and new institutional economics—the book evaluates the sector’s role in shaping economic development indicators across BRICS+ nations and the Global South. In particular, the volume provides policy frameworks to support the formalization and empowerment of informal enterprises, contributing to inclusive growth and resilient economic systems. It also analyses and offers solutions on how the informal sector can best be engaged and explains that in order to create policies that effectively harness the informal business sector's potential for economic development, a deeper understanding of it is imperative. Over the course of the book, ideas from the fields of dualistic economies, the dynamics of the informal sector, and the function of institutions in economic growth are incorporated.