Falta de Garantias e Falhas de Coordenação: evidências do sistema agroindustrial da carne bovina

Silvia Morales de Queiroz Caleman and Decio Zylbersztajn

Revista de Economia e Sociologia Rural (RESR), 2012, vol. 50, issue 2

Abstract: The role of formal and informal institutions in the economy of organizations is traditionally analyzed in terms of efficient governance mechanisms which minimize transaction costs. Based on a different perspective, this paper focuses on coordination failures and the problem of lack of guarantees in sequential transactions. In particular, this research examines a bundle of guarantees which supports the transaction between producers and the meatpacking industry in the Mato Grosso do Sul state regarding the inefficiencies in the trading of ready-to-slaughter animals. A theoretical model based on Barzel (1997) involving property rights, guarantees and institutions is proposed for the understanding of coordination failures. This model is empirically tested with two multiple logistic regressions: i) an ordered logit model based on the producer’s risk perception and ii) a recursive bivariate probit model based on producer’s risk perception and on the role of collective action. The findings suggest that formal institutions and collective actions play a relevant role in providing guarantees and, thus, representing a source of transaction costs minimization.

Keywords: Agricultural; Finance (search for similar items in EconPapers)
Date: 2012
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Persistent link: https://EconPapers.repec.org/RePEc:ags:revi24:341570

DOI: 10.22004/ag.econ.341570

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