Payments Systems and Third World Development: some Conclusions

Frances Stewart

Chapter 12 in Work, Income and Inequality, 1983, pp 306-323 from Palgrave Macmillan

Abstract: Abstract Much discussion of income distribution and technological choice assumes a given institutional framework, focussing attention on factors affecting incomes and technology within a particular system. It is widely believed that the question of institution is outside the purview1 of the economist — and also, in a way, of the politician — being a feature of the system determined by historical/sociological forces and not a day-to-day policy matter. Yet, as argued in the first chapter of this book, from both a theoretical and an empirical standpoint institutions and ‘rules of the game’ are critical determinants of access to work and therefore of employment, and of the income generated by work and therefore of income distribution. As a form of shorthand we have described the set of rules and institutions which determine access to work and income as the ‘payments system’.2

Keywords: Income Distribution; Informal Sector; Payment System; Land Reform; Public Enterprise (search for similar items in EconPapers)
Date: 1983
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DOI: 10.1007/978-1-349-05417-6_12

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