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The Economics of Common Pool Resources: A Review

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  • Adhikari, Bhim

Abstract

The paper analyses open access and common property resource systems drawing insights from new institutional economics, especially property rights theory and policy analysis. This analysis of common pool resources (CPRs) under common property regimes indicates that local communities devise formal and informal institutions in managing the local commons. The paper further discusses how N. S. Jodha‟s empirical work on the economics of CPRs has enhanced our understanding of the role of CPRs in the livelihood strategies of the poor in the developing world. Devolution of authority to local resource users is emphasized as an institutional imperative in designing appropriate forms of governance structures for CPR management.

Suggested Citation

  • Adhikari, Bhim, 2021. "The Economics of Common Pool Resources: A Review," Ecology, Economy and Society - the INSEE Journal, Indian Society of Ecological Economics (INSEE), vol. 4(01), January.
    • Handle: RePEc:ags:inseej:308981
    DOI: 10.22004/ag.econ.308981
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    References listed on IDEAS

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    1. Jodha, N.S., 1992. "Common Property Resources; A Missing Dimension of development Strategies," World Bank - Discussion Papers 168, World Bank.
    2. Claude Ménard, 2000. "Enforcement procedures and governance structures: what relationship?," Chapters, in: Claude Ménard (ed.), Institutions, Contracts and Organizations, chapter 17, Edward Elgar Publishing.
    3. Adhikari, Bhim, 2005. "Poverty, property rights and collective action: understanding the distributive aspects of common property resource management," Environment and Development Economics, Cambridge University Press, vol. 10(1), pages 7-31, February.
    4. Adhikari, Bhim & Di Falco, Salvatore & Lovett, Jon C., 2004. "Household characteristics and forest dependency: evidence from common property forest management in Nepal," Ecological Economics, Elsevier, vol. 48(2), pages 245-257, February.
    5. E. Somanathan & R. Prabhakar & B.S. Mehta, 2002. "Collective action for forest conservation: Does heterogeneity matter?," Discussion Papers 02-01, Indian Statistical Institute, Delhi.
    6. Claude Ménard (ed.), 2000. "Institutions, Contracts and Organizations," Books, Edward Elgar Publishing, number 1921.
    7. Bromley, D.W. & Cernea, M.M., 1989. "The Management Of Common Property Natural Resources - Some Conceptual And Operational Fallacies," World Bank - Discussion Papers 57, World Bank.
    8. Baland, Jean-Marie & Platteau, Jean-Philippe, 1999. "The Ambiguous Impact of Inequality on Local Resource Management," World Development, Elsevier, vol. 27(5), pages 773-788, May.
    9. Ghate, Rucha & Jodha, Narpat & Mukhopadhyay, Pranab (ed.), 2008. "Promise, Trust and Evolution: Managing the Commons of South Asia," OUP Catalogue, Oxford University Press, number 9780199213832.
    10. Pender, John L. & Scherr, Sara J., 1999. "Organizational development and natural resource management: evidence from central Honduras," EPTD discussion papers 49, International Food Policy Research Institute (IFPRI).
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