Not All Is Markets

Erwin Bulte, Paul Richards and Maarten Voors
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Paul Richards: Njala University
Maarten Voors: Wageningen University and Research

Chapter Chapter 2 in Institutions and Agrarian Development, 2018, pp 11-37 from Palgrave Macmillan

Abstract: Abstract This chapter provides a short review of current debates about institutions, focusing on the economist’s and the anthropologist’s perspective. We start with narratives by economists on the origins and evolution of institutions (e.g. transaction costs and efficiency, the struggle between different social groups). We then augment the conventional focus on markets and hierarchy (Oliver Williamson) by introducing a four-field framework for analysing institutions, which is developed along two axes: the group—and the grid dimension. This framework, proposed by Douglas, has gained little traction in economics until now, but we show how it can be useful to understand institutional dynamics in rural development in West Africa.

Date: 2018
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Persistent link: https://EconPapers.repec.org/RePEc:pal:psachp:978-3-319-98500-8_2

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DOI: 10.1007/978-3-319-98500-8_2

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