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Relationship Between Formal Institutions and the Informal Economy in Colombia: An Application to the Food Sector

Sánchez, Daniella M.
http://rave.ohiolink.edu/etdc/view?acc_num=oduhonors1683028775332179

Abstract Details

2023, Honors Theses, Ohio Dominican University, Honors Theses.
It is crucial to analyze the relationship between formal institutions and the informal sector to gain a better understanding of the challenges that certain informal industries face. Given the wide-ranging nature of the informal economy, this paper will focus on the food sector, specifically street food vending in three Colombian cities–Barranquilla, Bogotá, and Medellin–which has garnered considerable social and cultural significance over time. This paper will employ a political economy research approach. A surveying method will be the primary source of data collection. Insights obtained from first-person accounts provide invaluable information regarding the reality of the challenges that small-scale informal vendors face. This study posits that the majority of the businesses surveyed surpass the upper-middle income economy poverty line and minimum wage. The majority of businesses responded that they have attained education up to the secondary level. Additionally, the tenure exhibited spans from 8 years of age to someone who has been informally operating for a period as short as 5 months. The study highlights that women in the informal sector face higher financial barriers, especially in regard to the low supply of microcredits. Finally, the data suggest that males are more likely to become formally recognized businesses compared to females, although both genders present a high disposition toward formalization. This exploratory research may furnish policymakers with pertinent information on how to introduce incentives to expand the economic activities of the informal food sector while improving the transition process from informality to formality.
Kenneth Fah (Advisor)
Michael Dougherty (Committee Member)
Douglas Ruml (Committee Member)
Behavioral Sciences; Cultural Anthropology; Demography; Economic Theory; Economics; Political Science; Public Policy; Social Structure; Statistics; Urban Planning
Formal institutions; bank loans; government; informal economy; street food vending; access to financial capital; education level; tenure; disposition toward the formal sector; formalization; incomes; public policy; orange economy; relocation; Barranquilla; Bogotá; Medellin; culture; economy; survey; retirement system; poverty line; DANE; World Bank

Recommended Citations

Citations

  • Sánchez, D. M. (2023). Relationship Between Formal Institutions and the Informal Economy in Colombia: An Application to the Food Sector [Electronic thesis or dissertation, Ohio Dominican University]. OhioLINK Electronic Theses and Dissertations Center. http://rave.ohiolink.edu/etdc/view?acc_num=oduhonors1683028775332179

    APA Style (7th edition)

  • Sánchez, Daniella. Relationship Between Formal Institutions and the Informal Economy in Colombia: An Application to the Food Sector. 2023. Ohio Dominican University, Electronic thesis or dissertation. OhioLINK Electronic Theses and Dissertations Center, http://rave.ohiolink.edu/etdc/view?acc_num=oduhonors1683028775332179.

    MLA Style (8th edition)

  • Sánchez, Daniella. "Relationship Between Formal Institutions and the Informal Economy in Colombia: An Application to the Food Sector." Electronic thesis or dissertation, Ohio Dominican University, 2023. http://rave.ohiolink.edu/etdc/view?acc_num=oduhonors1683028775332179

    Chicago Manual of Style (17th edition)

oduhonors1683028775332179
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© 2023, all rights reserved.
This open access ETD is published by Ohio Dominican University Honors Theses and OhioLINK.