The new developing interdisciplinary methodology of the New Institutional and Transaction Costs Economics (combining Economics, Organization, Law, Sociology, Behavioral and Political Sciences) is incorporated into agrarian sphere, and a framework for governing of agrarian sustainability suggested. It takes into account the role of the specific institutional environment (formal and informal property rights, and systems of their enforcement); and the behavioral characteristics of individuals (bounded rationality, tendency for opportunism, entrepreneurships, preferences, risk aversion etc.); and the transaction costs associated with protection and exchange of property rights; and the critical factors of each transaction (such as frequency, uncertainty, asset specificity, and appropriability); and the comparative efficiency of market, private, public, and hybrid governing modes. The discrete structural analysis is applied, and the principle forms for governing of transactions with specific critical dimensions specified. The cases of market and private sector failures are identified, and the needs for a third party (Government, international assistance etc.) intervention justified. The comparative advantages and disadvantages of different modes for public involvement (property rights modernization, regulations, taxes, assistance and support, public provision, hybrid modes) are assessed. The effective governance mix for public intervention in environmental transactions is presented.
Download Info
To download:
If you experience problems downloading a file, check if you have the
proper application to
view it first. Information about this may be contained
in the File-Format links below. In case of further problems read
the IDEAS help
file. Note that these files are not on the IDEAS
site. Please be patient as the files may be large.
Publisher Info
Paper provided by University Library of Munich, Germany in its series MPRA Paper with number
7772.
References listed on IDEAS Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
Cited by: (explanations, Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.)