The becoming of a market - A reflection illustrated by two case studies from Uganda
AbstractThis paper (9,201 words) argues that there is more to the becoming of a market than income-level of the buyer. A market is a fine webbed institutional setting that is worthwhile for economists to study. It argues that there are five characteristics to look at, namely demand, supply, and beyond the neo-classical model the ability to contract, the location (in space and time) to contract, and the purpose why the market was called into being. The interaction of these five characteristics shapes the development paths of markets. The framework is exemplarily applied to a commodity and a public good market, i. e. fish and minibus (“matatu”) services in Uganda, East Africa since the mid-1980ties.
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Bibliographic InfoPaper provided by University Library of Munich, Germany in its series MPRA Paper with number 5559.
Date of creation: Aug 2007
Date of revision: Oct 2007
Institutional Setting; Path Dependency; Market Characteristics; Uganda; Fish Market; Public Transport Market;
Find related papers by JEL classification:
- O12 - Economic Development, Technological Change, and Growth - - Economic Development - - - Microeconomic Analyses of Economic Development
- L14 - Industrial Organization - - Market Structure, Firm Strategy, and Market Performance - - - Transactional Relationships; Contracts and Reputation
- D02 - Microeconomics - - General - - - Institutions: Design, Formation, and Operations
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- Casella, Alessandra, 1995. "Free Trade and Evolving Standards," CEPR Discussion Papers 1204, C.E.P.R. Discussion Papers.
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