Godfrey Madigu, doctoral student at the Navarra Center for International Development presented his paper “Informality, Entry and Welfare” co-authored with Pedro Mendi, Godfrey’s director of thesis and profesor at the Faculty of Economics in the University of Navarra. The presentation took place in early September at the the XXX Symposium of Industrial Economics of the University of Alicante.
The research avoids focusing on a specific market, and is instead characterized by theoretical analysis. “We are looking at how informal business affect welfare”, explains Godfrey Madigu.
He clarified that when most economists talk about welfare, “they are talking about about something that is the best possible good for the best number of people”. With this definition in mind, his paper concluded that the presence of informal business in the market impairs welfare generally.
The XXX Symposium of Industrial Economics of the University of Alicante welcomed more than one hundred participants. The meeting brought together European specialists in Industrial Economics, including Joaquin Almunia, former Vice-President of the European Commission and former socialist minister, Jorge Padilla, director of consultancy Compass Lexecon Europe and Rafael Repullo, director of the Center for Monetary Studies and financial (CEMFI), who discussed the banking crisis and the role of banking competition in these processes.
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