John R. Commons and the Evolution of Institutions: The Case of the Malian Cotton Sector
AbstractApplying John R. Commons institutional economic framework, this paper analyzes the evolution of the key institutions in the Malian cotton sector starting with the CFDT contract following the country‘s Independence in 1960; the nationalization of the cotton gin company, CMDT, in 1974; the completion of a vertically integrated market structure from the mid-1980s to mid-1990s; and, finally, to the current state of the market-oriented reforms in 2010. In accordance with John R. Commons’ economic theory, institutional changes in the Malian cotton sector have led to both intended and unintended consequences impacting economic performance at the farm, gin, and State levels, which in turn, has contributed to the emergence of new limiting factors. At present, the limiting factors to desired economic performance in the Malian cotton sector are: the lack of adequate extension services, high rates of indebtedness at both farmer and cooperative levels, difficulty in farming in an integrated system due to the limited access to cereal inputs on credit, low yields, delays in payment, and discordance between farmers and their union‘s leaders. Based on these findings, policy recommendations to revitalize the Malian cotton sector are drawn.
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Bibliographic InfoPaper provided by Agricultural and Applied Economics Association in its series 2012 Annual Meeting, August 12-14, 2012, Seattle, Washington with number 124460.
Date of creation: 2012
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John R. Commons; Institutions; Cotton; Mali; Institutional and Behavioral Economics; International Development;
This paper has been announced in the following NEP Reports:
- NEP-AFR-2012-06-25 (Africa)
- NEP-ALL-2012-06-25 (All new papers)
- NEP-HIS-2012-06-25 (Business, Economic & Financial History)
- NEP-PKE-2012-06-25 (Post Keynesian Economics)
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