Capabilities and Communities: A Perspective from Institutional Economics

Shankaran Nambiar ()
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Shankaran Nambiar: Malaysian Institute of Economic Research

The European Journal of Development Research, 2021, vol. 33, issue 6, No 23, 1973-1996

Abstract: Abstract The purpose of this paper is to argue that the capability approach can benefit from thinking in institutional economics. If the locus of the capability approach is moved from the individual to groups or communities, then it is imperative that institutions (conceived as formal and informal rules) be explicitly considered when applying the framework, particularly when social relations matter, as in microcredit or poverty alleviation. Rules underpin transactions and behaviour in society, so it stands to reason that capability improvement, or its lack, be examined from the vantage point of rules as understood by institutional economics. Applying institutional economics to the capability approach will open up different ways of analysing capabilities in communities.

Keywords: Capability approach; Institutions; Institutional economics; Formal and informal rules; Microcredit; Participation (search for similar items in EconPapers)
Date: 2021
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DOI: 10.1057/s41287-020-00341-5

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