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Small-scale cooperative banking and the production of capital: Reflecting on the role of institutional agreements in supporting rural livelihood in Kampot, Cambodia

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  • Scheidel, Arnim
  • Farrell, Katharine N.

Abstract

This paper explores the ecological economics of small-scale cooperative banking (SSCB) through reference to the empirical case of a rice-farming village in Kampot, Cambodia. It combines Georgescu-Roegen's discussion of an economy's capacity to produce economic processes with Ostrom's concept of institutional performance, in order to address the implications and functioning of SSCB within a small-farmer economy. The local collective action situation of maintaining and making use of a SSCB system – a specific finance model – provides the studied community with access to a pooled capital fund that may play an important role in ensuring its capacity to produce and reproduce economic processes, according to its own specifications. The coordinated action among the villagers, which matches up well with Ostrom's criteria for effective institutional performance of common pool resource use governance, is found to include social and environmental dimensions, which we understand to be necessary for achieving transformations toward more sustainable economic activity. While we do not wish to suggest that the adoption of SSCB guarantees either improved ecological or social impacts, our results suggest that this finance model could play a supporting role in enhancing the potential of small-farming communities to improve both, should they wish to do so.

Suggested Citation

  • Scheidel, Arnim & Farrell, Katharine N., 2015. "Small-scale cooperative banking and the production of capital: Reflecting on the role of institutional agreements in supporting rural livelihood in Kampot, Cambodia," Ecological Economics, Elsevier, vol. 119(C), pages 230-240.
    • Handle: RePEc:eee:ecolec:v:119:y:2015:i:c:p:230-240
    DOI: 10.1016/j.ecolecon.2015.09.008
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    Cited by:

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    3. Lin, Bin & Wang, Xiaoxi & Jin, Songqing & Yang, Wanjiang & Li, Houjian, 2022. "Impacts of cooperative membership on rice productivity: Evidence from China," World Development, Elsevier, vol. 150(C).

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    More about this item

    Keywords

    Cambodia; Community finance; Flow/fund theory; Institutional analysis; MuSIASEM; Small-farmers;
    All these keywords.

    JEL classification:

    • A12 - General Economics and Teaching - - General Economics - - - Relation of Economics to Other Disciplines
    • A13 - General Economics and Teaching - - General Economics - - - Relation of Economics to Social Values
    • B26 - Schools of Economic Thought and Methodology - - History of Economic Thought since 1925 - - - Financial Economics
    • B52 - Schools of Economic Thought and Methodology - - Current Heterodox Approaches - - - Historical; Institutional; Evolutionary; Modern Monetary Theory;
    • G21 - Financial Economics - - Financial Institutions and Services - - - Banks; Other Depository Institutions; Micro Finance Institutions; Mortgages
    • O35 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Social Innovation
    • Q14 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Agriculture - - - Agricultural Finance
    • Q57 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Ecological Economics

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