... of microenterprises in middle-income countries in Latin America. Design/methodology/approach The paper uses a probit regression model to examine business formalization as a binary outcome of formal and informal institutions. Data was collected through interviews and surveys across 52 municipalities...

... of 14,077 observations, and the period 2020–2021 (COVID-19), with 7,922 observations. The unit of analysis was the informal microenterprise with more than three years of operation, and the data was analyzed using a logistic model. Findings The probability of adopting informality for institutional...