‘Incorporating a new business in Bolivia... takes
fi fty-nine days, entails fi fteen separate procedures, and
costs twice as much as the average person earns in a year.
So, according to a ... World Bank study, most of Bolivia’s
businesses remain ‘informal,’ which means that they have
no legal protection, and limited access to credit markets.’
James Surowiecki, ‘The Financial Page: Morales’s Mistake,’
The New Yorker, 23 & 30 January 2006.
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