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The Impact of Connectivity on Market Interlinkages: Evidence from Rural Punjab

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  • Shami, Mahvish

Abstract

Up to the 1980s it was generally accepted that many key issues in agrarian development could not be studied without an understanding of market interlinkages. Recently, however, this theory has lost its importance in development literature. Based on a household-level survey from rural Pakistan, this paper seeks to re-introduce the importance of interlinkages by illustrating their exploitative potential, particularly in unequal isolated villages where landlords are essentially monopolist/monopsonist. The solution proposed is to break isolation. Making use of an exogenous shock found in the construction of a motorway, the study finds that while connectivity does not break interlinkages completely, it does significantly reduce their exploitative nature.

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Bibliographic Info

Article provided by Elsevier in its journal World Development.

Volume (Year): 40 (2012)
Issue (Month): 5 ()
Pages: 999-1012

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Handle: RePEc:eee:wdevel:v:40:y:2012:i:5:p:999-1012

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Web page: http://www.elsevier.com/locate/worlddev

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Keywords: interlinked markets; connectivity; bargaining power; South Asia; Pakistan;

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  1. Hatlebakk, M., 2000. "A New and Robust Subgame Perfect Equilibrium in a Model of Triadic Power Relations," Norway; Department of Economics, University of Bergen 2400, Department of Economics, University of Bergen.
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  3. Aleem, Irfan, 1990. "Imperfect Information, Screening, and the Costs of Informal Lending: A Study of a Rural Credit Market in Pakistan," World Bank Economic Review, World Bank Group, vol. 4(3), pages 329-49, September.
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  5. Naqvi, Nadeem & Wemhoner, Frederick, 1995. "Power, coercion, and the games landlords play," Journal of Development Economics, Elsevier, vol. 47(2), pages 191-205, August.
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  7. Akerlof, George A, 1976. "The Economics of Caste and of the Rat Race and Other Woeful Tales," The Quarterly Journal of Economics, MIT Press, vol. 90(4), pages 599-617, November.
  8. Bardhan, Pranab K, 1980. "Interlocking Factor Markets and Agrarian Development: A Review of Issues," Oxford Economic Papers, Oxford University Press, vol. 32(1), pages 82-98, March.
  9. Bell, Clive, 1988. "Credit markets and interlinked transactions," Handbook of Development Economics, in: Hollis Chenery & T.N. Srinivasan (ed.), Handbook of Development Economics, edition 1, volume 1, chapter 16, pages 763-830 Elsevier.
  10. Bell, Clive & Srinivasan, T N, 1989. "Interlinked Transactions in Rural Markets: An Empirical Study of Andhra Pradesh, Bihar and Punjab," Oxford Bulletin of Economics and Statistics, Department of Economics, University of Oxford, vol. 51(1), pages 73-83, February.
  11. Swaminathan, Madhura, 1991. "Segmentation, Collateral Undervaluation, and the Rate of Interest in Agrarian Credit Markets: Some Evidence from Two Villages in South India," Cambridge Journal of Economics, Oxford University Press, vol. 15(2), pages 161-78, June.
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