Common Property Institutions and Markets

Nirmal Sengupta
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Nirmal Sengupta: Madras Institute of Development Studies

Indian Economic Review, 1995, vol. 30, issue 2, 187-201

Abstract: Following rapid deterioration of renewable resources there has been growing interest in common property institutions. A crucial issue is whether CP organisations can also exist within markets or are only relics of past. This paper investigates that question from the perspective of new institutional theories. It is shown that certain problems which are used to question their viability are endemic to all kinds of organisations. Common property institutions have a limited but very significant role in certain spheres of modern society. The paper also investigates under what circumstances do they occur and what are their basic institutional characteristics?

JEL-codes: D20 Q20 (search for similar items in EconPapers)
Date: 1995
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