Centro de Divulgación del Conocimiento Económico para la Libertad
"...La única forma de cambiar el curso de la sociedad
será cambiando las ideas" - Friedrich Hayek
"Una sociedad que priorice la igualdad por sobre la libertad no obtendrá ninguna de las dos cosas. Una sociedad que priorice la libertad por sobre la igualdad obtendrá un alto grado de ambas" - Milton Friedman
Leasing the street: Institutional arrangements on street vendors’ property rights in Venezuela. Wladimir Zanoni

Introduction:
Official statistics show that, by 2004, the informal commerce in Venezuela employed
1.5 million people (15% of the labor force) and contributed to 3.25% of the Venezuelan
GDP1. Unemployment rates (averaging 14.11% in the 1996-2004 period), high costs of
doing business (e.g. De Soto et. all, 1989 pioneer study in Peru; Penfold, 2001 in
Venezuela), and low quality of public goods (Levenson and Maloney, 1998; Azuma and
Grossman, 2002), engender positive incentives to engage in that informal activity.

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