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Not All Is Markets

In: Institutions and Agrarian Development

Author

Listed:
  • Erwin Bulte

    (Wageningen University and Research)

  • Paul Richards

    (Njala University)

  • Maarten Voors

    (Wageningen University and Research)

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.

Suggested Citation

  • Erwin Bulte & Paul Richards & Maarten Voors, 2018. "Not All Is Markets," Palgrave Studies in Agricultural Economics and Food Policy, in: Institutions and Agrarian Development, chapter 0, pages 11-37, Palgrave Macmillan.
    • Handle: RePEc:pal:psachp:978-3-319-98500-8_2
    DOI: 10.1007/978-3-319-98500-8_2
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