1. PAPER WITHDRAWN--Legal Protection for the Informal Goods Market in Latin America.
- Author
-
Fandl, Kevin
- Subjects
- *
ECONOMIC models , *MARKETS , *ECONOMICS , *SOCIOLOGY , *COMMERCIAL policy - Abstract
In many developing countries, trade is not facilitated by formal legal protections such as property and contract rights. Instead, informal trade occupies the vast majority of domestic transactions, often unaccounted for by general economic models and wealth measurement tools. This type of trade is often absent of formal legal protections, or if they exist, they are seldom enforced in developing country trade. Yet despite the lack of formal legal mechanisms and institutions in informal markets, trade continues to flow smoothly and with little apparent conflict. What mechanisms, whether formal or informal, support and facilitate this movement of goods and keep conflict to a minimum? How effective are the underlying legal or quasi-legal institutions that promote trade in informal markets and do they adequately protect the buyer and seller from potential disputes? Would formalization and better enforcement of formal legal rights to domestic trade facilitate or impede the operation of the informal marketplace?This study will consider the informal market for goods in Latin America, primarily addressing domestic trade in urban Colombia. The analysis will be interdisciplinary, combining the research tools of law, economics, sociology and international trade policy. The purpose of the study is to identify the mechanisms that facilitate informal trade, determine their effectiveness in protecting buyers and sellers and preventing disputes, and discern the viability and usefulness of implementing formal legal protections on the informal market. ..PAT.-Unpublished Manuscript [ABSTRACT FROM AUTHOR]
- Published
- 2006