The Economics of Common Pool Resources: A Review

Bhim Adhikari

Ecology, Economy and Society - the INSEE Journal, 2021, vol. 04, issue 01

Abstract: The paper analyses open access and common property resource systems drawing insights from new institutional economics, especially property rights theory and policy analysis. This analysis of common pool resources (CPRs) under common property regimes indicates that local communities devise formal and informal institutions in managing the local commons. The paper further discusses how N. S. Jodha‟s empirical work on the economics of CPRs has enhanced our understanding of the role of CPRs in the livelihood strategies of the poor in the developing world. Devolution of authority to local resource users is emphasized as an institutional imperative in designing appropriate forms of governance structures for CPR management.

Keywords: Resource/Energy; Economics; and; Policy (search for similar items in EconPapers)
Date: 2021
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Citations: View citations in EconPapers (1)

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Persistent link: https://EconPapers.repec.org/RePEc:ags:inseej:308981

DOI: 10.22004/ag.econ.308981

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