IDEAS home Printed from https://ideas.repec.org/a/eee/ecoser/v29y2018ipbp370-380.html
   My bibliography  Save this article

The World Bank’s environmental strategies: Assessing the influence of a biased use of New Institutional Economics on legal issues

Author

Listed:
  • Prévost, Benoît
  • Rivaud, Audrey

Abstract

The World Bank considers itself as “a leader in piloting payments for ecosystem services†. This article explores how the World Bank gradually integrated environmental and legal issues within its strategic framework with a particular focus on its economic theoretical influences.

Suggested Citation

  • Prévost, Benoît & Rivaud, Audrey, 2018. "The World Bank’s environmental strategies: Assessing the influence of a biased use of New Institutional Economics on legal issues," Ecosystem Services, Elsevier, vol. 29(PB), pages 370-380.
  • Handle: RePEc:eee:ecoser:v:29:y:2018:i:pb:p:370-380
    DOI: 10.1016/j.ecoser.2017.03.014
    as

    Download full text from publisher

    File URL: http://www.sciencedirect.com/science/article/pii/S2212041617301845
    Download Restriction: Full text for ScienceDirect subscribers only

    File URL: https://libkey.io/10.1016/j.ecoser.2017.03.014?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    References listed on IDEAS

    as
    1. Nabli, Mustapha K. & Nugent, Jeffrey B., 1989. "The New Institutional Economics and its applicability to development," World Development, Elsevier, vol. 17(9), pages 1333-1347, September.
    2. Braat, Leon C. & de Groot, Rudolf, 2012. "The ecosystem services agenda:bridging the worlds of natural science and economics, conservation and development, and public and private policy," Ecosystem Services, Elsevier, vol. 1(1), pages 4-15.
    3. Claude Ménard & Bertrand Du Marais, 2006. "Can we rank legal systems according to their economic efficiency?," Post-Print halshs-00273862, HAL.
    4. Agrawal, Arun, 2001. "Common Property Institutions and Sustainable Governance of Resources," World Development, Elsevier, vol. 29(10), pages 1649-1672, October.
    5. Richard R. Nelson, 2007. "Institutions and Economic Growth: Sharpening the Research Agenda," Journal of Economic Issues, Taylor & Francis Journals, vol. 41(2), pages 313-323, June.
    6. Ronald H. Coase, 2008. "The Institutional Structure of Production," Springer Books, in: Claude Ménard & Mary M. Shirley (ed.), Handbook of New Institutional Economics, chapter 2, pages 31-39, Springer.
    7. Nicolas Postel & Richard Sobel, 2009. "Institutionalism as the way of unification of the heterodox theories," The Journal of Philosophical Economics, Bucharest Academy of Economic Studies, The Journal of Philosophical Economics, vol. 3(1), pages 44-74, November.
    8. Costanza, Robert & d'Arge, Ralph & de Groot, Rudolf & Farber, Stephen & Grasso, Monica & Hannon, Bruce & Limburg, Karin & Naeem, Shahid & O'Neill, Robert V. & Paruelo, Jose, 1998. "The value of ecosystem services: putting the issues in perspective," Ecological Economics, Elsevier, vol. 25(1), pages 67-72, April.
    9. Hodgson, Geoffrey M., 2015. "Much of the ‘economics of property rights’ devalues property and legal rights," Journal of Institutional Economics, Cambridge University Press, vol. 11(4), pages 683-709, December.
    10. Kwangsu Kim, 2014. "Adam Smith's and Douglass North's Multidisciplinary Approach to Economic Development," American Journal of Economics and Sociology, Wiley Blackwell, vol. 73(1), pages 3-31, January.
    11. Hallegatte, Stephane & Heal, Geoffrey & Fay, Marianne & Treguer, David, 2011. "From growth to green growth -- a framework," Policy Research Working Paper Series 5872, The World Bank.
    12. David Colander & Richard Holt & Barkley Rosser, 2004. "The changing face of mainstream economics," Review of Political Economy, Taylor & Francis Journals, vol. 16(4), pages 485-499.
    13. Ritzen, Jo & Easterly, William & Woolcock, Michael, 2000. "On"good"politicians and"bad"policies - social cohesion, institutions, and growth," Policy Research Working Paper Series 2448, The World Bank.
    14. A. K. Dragun, 1987. "Property Rights in Economic Theory," Journal of Economic Issues, Taylor & Francis Journals, vol. 21(2), pages 859-868, June.
    15. Geoffrey M. Hodgson, 1998. "The Approach of Institutional Economics," Journal of Economic Literature, American Economic Association, vol. 36(1), pages 166-192, March.
    16. Edella Schlager & Elinor Ostrom, 1992. "Property-Rights Regimes and Natural Resources: A Conceptual Analysis," Land Economics, University of Wisconsin Press, vol. 68(3), pages 249-262.
    17. Costanza, Robert, 1998. "The value of ecosystem services," Ecological Economics, Elsevier, vol. 25(1), pages 1-2, April.
    18. Djankov, Simeon & Glaeser, Edward & La Porta, Rafael & Lopez-de-Silanes, Florencio & Shleifer, Andrei, 2003. "The new comparative economics," Journal of Comparative Economics, Elsevier, vol. 31(4), pages 595-619, December.
    19. Williamson, John, 2000. "What Should the World Bank Think about the Washington Consensus?," The World Bank Research Observer, World Bank, vol. 15(2), pages 251-264, August.
    20. Groenewegen, J. & Kerstholt, F.T.S. & Nagelkerke, A.G., 1995. "On integrating new and old institutionalism : Douglass North building bridges," Other publications TiSEM cc3f6aba-ee41-4256-93de-8, Tilburg University, School of Economics and Management.
    21. Daniel Ankarloo, 2004. "Anti-Williamson: a Marxian critique of New Institutional Economics," Cambridge Journal of Economics, Oxford University Press, vol. 28(3), pages 413-429, May.
    22. Brian Z. Tamanaha, 2015. "The Knowledge and Policy Limits of New Institutional Economics on Development," Journal of Economic Issues, Taylor & Francis Journals, vol. 49(1), pages 89-109, January.
    23. D. Acemoglu & J. Robinson, 2013. "Economics versus politics: pitfalls of policy advice," Voprosy Ekonomiki, NP Voprosy Ekonomiki, issue 12.
    24. David Colander & Richard Holt & J. Rosser, 2007. "Live and dead issues in the methodology of economics," Journal of Post Keynesian Economics, Taylor & Francis Journals, vol. 30(2), pages 303-312.
    25. Kanbur, Ravi, 2002. "Economics, Social Science and Development," World Development, Elsevier, vol. 30(3), pages 477-486, March.
    26. Otto Steiger, 2006. "Property Economics versus New Institutional Economics: Alternative Foundations of How to Trigger Economic Development," Journal of Economic Issues, Taylor & Francis Journals, vol. 40(1), pages 183-208, March.
    27. Graham Brownlow, 2010. "Structure and change: Douglass North's economics," Journal of Economic Methodology, Taylor & Francis Journals, vol. 17(3), pages 301-316.
    28. Dale Whittington & Stefano Pagiola, 2012. "Using Contingent Valuation in the Design of Payments for Environmental Services Mechanisms: A Review and Assessment," The World Bank Research Observer, World Bank, vol. 27(2), pages 261-287, August.
    29. Murat Arsel & Bram Büscher, 2012. "Nature™ Inc.: Changes and Continuities in Neoliberal Conservation and Market-based Environmental Policy," Development and Change, International Institute of Social Studies, vol. 43(1), pages 53-78, January.
    30. Corinne Gendron, 2014. "Beyond Environmental and Ecological Economics : Proposal for an Economic Sociology of the Environment," Post-Print hal-01513956, HAL.
    31. Oliver E. Williamson, 2000. "The New Institutional Economics: Taking Stock, Looking Ahead," Journal of Economic Literature, American Economic Association, vol. 38(3), pages 595-613, September.
    32. Edward L. Glaeser & Rafael La Porta & Florencio Lopez-de-Silanes & Andrei Shleifer, 2004. "Do Institutions Cause Growth?," Journal of Economic Growth, Springer, vol. 9(3), pages 271-303, September.
    33. Norgaard, Richard B. & Bode, Collin, 1998. "Next, the value of God, and other reactions," Ecological Economics, Elsevier, vol. 25(1), pages 37-39, April.
    34. Geoffrey M. Hodgson, 2007. "The Revival of Veblenian Institutional Economics," Journal of Economic Issues, Taylor & Francis Journals, vol. 41(2), pages 324-340, June.
    35. Ronald H. Coase, 2000. "The new institutional economics," Chapters, in: Claude Ménard (ed.), Institutions, Contracts and Organizations, chapter 1, Edward Elgar Publishing.
    36. Malcolm Rutherford, 1995. "The Old and the New Institutionalism: Can Bridges Be Built?," Journal of Economic Issues, Taylor & Francis Journals, vol. 29(2), pages 443-451, June.
    37. Eirik G. Furubotn & Rudolf Richter, 2008. "The New Institutional Economics – A Different Approach To Economic Analysis," Economic Affairs, Wiley Blackwell, vol. 28(3), pages 15-23, September.
    38. Douglass C. North, 2005. "Introduction to Understanding the Process of Economic Change," Introductory Chapters, in: Understanding the Process of Economic Change, Princeton University Press.
    39. Costanza, Robert & d'Arge, Ralph & de Groot, Rudolf & Farber, Stephen & Grasso, Monica & Hannon, Bruce & Limburg, Karin & Naeem, Shahid & O'Neill, Robert V. & Paruelo, Jose, 1998. "The value of the world's ecosystem services and natural capital," Ecological Economics, Elsevier, vol. 25(1), pages 3-15, April.
    40. Daunton, Martin, 2010. "Rationality and institutions: reflections on Douglass North," Structural Change and Economic Dynamics, Elsevier, vol. 21(2), pages 147-156, May.
    41. Rodrik, Dani, 2008. "The New Development Economics: We Shall Experiment, but How Shall We Learn?," Working Paper Series rwp08-055, Harvard University, John F. Kennedy School of Government.
    42. Bhaskar Vira, 1997. "The Political Coase Theorem: Identifying Differences between Neoclassical and Critical Institutionalism," Journal of Economic Issues, Taylor & Francis Journals, vol. 31(3), pages 761-780, September.
    43. Paavola, Jouni & Adger, W. Neil, 2005. "Institutional ecological economics," Ecological Economics, Elsevier, vol. 53(3), pages 353-368, May.
    44. van den Belt, Marjan & Stevens, Sharon M., 2016. "Transformative agenda, or lost in the translation? A review of top-cited articles in the first four years of Ecosystem Services," Ecosystem Services, Elsevier, vol. 22(PA), pages 60-72.
    45. Alchian, Armen A. & Demsetz, Harold, 1973. "The Property Right Paradigm," The Journal of Economic History, Cambridge University Press, vol. 33(1), pages 16-27, March.
    46. Simon Deakin & David Gindis & Geoffrey M. Hodgson & Kainan Huang & Katharina Pistor, 2015. "Legal Institutionalism: Capitalism & the Constitutive Role of Law," Working Papers wp468, Centre for Business Research, University of Cambridge.
    47. Kaufmann, Daniel & Kraay, Aart & Mastruzzi, Massimo, 2005. "Governance matters IV : governance indicators for 1996-2004," Policy Research Working Paper Series 3630, The World Bank.
    48. Harvey, David, 2007. "A Brief History of Neoliberalism," OUP Catalogue, Oxford University Press, number 9780199283279, Decembrie.
    49. Wade, Robert, 1987. "The Management of Common Property Resources: Collective Action as an Alternative to Privatisation or State Regulation," Cambridge Journal of Economics, Oxford University Press, vol. 11(2), pages 95-106, June.
    50. Bingham, Gail & Bishop, Richard & Brody, Michael & Bromley, Daniel & Clark, Edwin (Toby) & Cooper, William & Costanza, Robert & Hale, Thomas & Hayden, Gregory & Kellert, Stephen, 1995. "Issues in ecosystem valuation: improving information for decision making," Ecological Economics, Elsevier, vol. 14(2), pages 73-90, August.
    51. Kenneth P. Jameson, 2006. "Has Institutionalism Won the Development Debate?," Journal of Economic Issues, Taylor & Francis Journals, vol. 40(2), pages 369-375, June.
    52. Vernon Smith, 2005. "Hayek and Experimental Economics," The Review of Austrian Economics, Springer;Society for the Development of Austrian Economics, vol. 18(2), pages 135-144, June.
    53. Bardhan, Pranab, 1989. "The new institutional economics and development theory: A brief critical assessment," World Development, Elsevier, vol. 17(9), pages 1389-1395, September.
    54. Sen, Amartya, 1993. "Markets and Freedoms: Achievements and Limitations of the Market Mechanism in Promoting Individual Freedoms," Oxford Economic Papers, Oxford University Press, vol. 45(4), pages 519-541, October.
    55. Olivier Weinstein, 2013. "How to understand the Commons: Elinor Ostrom, Ownership and the New Institutional Economics [Comment comprendre les « communs » : Elinor Ostrom, la propriété et la nouvelle économie institutionnell," Post-Print hal-01361117, HAL.
    56. Tony Lawson, 2012. "Ontology and the study of social reality: emergence, organisation, community, power, social relations, corporations, artefacts and money," Cambridge Journal of Economics, Oxford University Press, vol. 36(2), pages 345-385.
    57. Aron, Janine, 2000. "Growth and Institutions: A Review of the Evidence," The World Bank Research Observer, World Bank, vol. 15(1), pages 99-135, February.
    58. Costanza, Robert & Farber, Stephen C. & Maxwell, Judith, 1989. "Valuation and management of wetland ecosystems," Ecological Economics, Elsevier, vol. 1(4), pages 335-361, December.
    59. World Bank, 2009. "Convenient Solutions to an Inconvenient Truth : Ecosystem-based Approaches to Climate Change," World Bank Publications - Reports 3062, The World Bank Group.
    60. Kallis, Giorgos & Gómez-Baggethun, Erik & Zografos, Christos, 2013. "To value or not to value? That is not the question," Ecological Economics, Elsevier, vol. 94(C), pages 97-105.
    61. Ann Davis, 2008. "Endogenous Institutions and the Politics of Property: Comparing and Contrasting Douglass North and Karl Polanyi in the Case of Finance," Journal of Economic Issues, Taylor & Francis Journals, vol. 42(4), pages 1101-1122, December.
    62. John Groenewegen & Frans Kerstholt & Ad Nagelkerke, 1995. "On Integrating New and Old Institutionalism: Douglass North Building Bridges," Journal of Economic Issues, Taylor & Francis Journals, vol. 29(2), pages 467-475, June.
    63. Harnay, Sophie & Marciano, Alain, 2009. "Posner, Economics And The Law: From €Œlaw And Economics†To An Economic Analysis Of Law," Journal of the History of Economic Thought, Cambridge University Press, vol. 31(2), pages 215-232, June.
    64. Ronald A. Cass, 2003. "Property rights systems and the rule of law," ICER Working Papers 29-2003, ICER - International Centre for Economic Research.
    65. Vatn, Arild, 2005. "Rationality, institutions and environmental policy," Ecological Economics, Elsevier, vol. 55(2), pages 203-217, November.
    66. Boyce, James K. & Klemer, Andrew R. & Templet, Paul H. & Willis, Cleve E., 1999. "Power distribution, the environment, and public health: A state-level analysis," Ecological Economics, Elsevier, vol. 29(1), pages 127-140, April.
    67. Kaufmann, Daniel & Kraay, Aart & Zoido-Lobaton, Pablo, 1999. "Aggregating governance indicators," Policy Research Working Paper Series 2195, The World Bank.
    68. Furubotn, Eirik G., 2001. "The new institutional economics and the theory of the firm," Journal of Economic Behavior & Organization, Elsevier, vol. 45(2), pages 133-153, June.
    69. World Bank, 2012. "Inclusive Green Growth : The Pathway to Sustainable Development," World Bank Publications - Books, The World Bank Group, number 6058, December.
    70. Geoffrey M. Hodgson, 2000. "What Is the Essence of Institutional Economics?," Journal of Economic Issues, Taylor & Francis Journals, vol. 34(2), pages 317-329, June.
    71. Gendron, Corinne, 2014. "Beyond environmental and ecological economics: Proposal for an economic sociology of the environment," Ecological Economics, Elsevier, vol. 105(C), pages 240-253.
    72. Giulio Palermo, 2007. "The ontology of economic power in capitalism: mainstream economics and Marx," Cambridge Journal of Economics, Oxford University Press, vol. 31(4), pages 539-561, July.
    73. Stefano Fiori, 2002. "Alternative Visions of Change in Douglass North’s New Institutionalism," Journal of Economic Issues, Taylor & Francis Journals, vol. 36(4), pages 1025-1043, December.
    74. Van Hecken, Gert & Bastiaensen, Johan & Windey, Catherine, 2015. "Towards a power-sensitive and socially-informed analysis of payments for ecosystem services (PES): Addressing the gaps in the current debate," Ecological Economics, Elsevier, vol. 120(C), pages 117-125.
    75. Alex Bowen & Cameron Hepburn, 2014. "Green growth: an assessment," Oxford Review of Economic Policy, Oxford University Press and Oxford Review of Economic Policy Limited, vol. 30(3), pages 407-422.
    76. Hovenkamp, Herbert, 1995. "Law and Economics in the United States: A Brief Historical Survey," Cambridge Journal of Economics, Oxford University Press, vol. 19(2), pages 331-352, April.
    77. John Roemer, 2006. "Review essay, “The 2006 world development report: Equity and development”," The Journal of Economic Inequality, Springer;Society for the Study of Economic Inequality, vol. 4(2), pages 233-244, August.
    78. Ben Fine, 2002. ""Economic imperialism": a view from the periphery," Review of Radical Political Economics, Union for Radical Political Economics, vol. 34(2), pages 187-201, June.
    79. Giulio Palermo, 1999. "The Convergence of Austrian Economics and New Institutional Economics: Methodological Inconsistency and Political Motivations," Journal of Economic Issues, Taylor & Francis Journals, vol. 33(2), pages 277-286, June.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Mauerhofer, Volker, 2019. "An introduction and overview on law, politics and governance: Institutions, organizations and procedures for Ecological Economics," Ecological Economics, Elsevier, vol. 165(C), pages 1-1.

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Prevost, Benoît & Rivaud, Audrey & Michelot, Agnès, 2016. "Économie politique des services écosystémiques : de l’analyse économique aux évolutions juridiques," Revue de la Régulation - Capitalisme, institutions, pouvoirs, Association Recherche et Régulation, vol. 19.
    2. Angela Ambrosino & Magda Fontana & Anna Azzurra Gigante, 2018. "Shifting Boundaries In Economics: The Institutional Cognitive Strand And The Future Of Institutional Economics," Journal of Economic Surveys, Wiley Blackwell, vol. 32(3), pages 767-791, July.
    3. Duarte N. Leite & Sandra T. Silva & Oscar Afonso, 2014. "Institutions, Economics And The Development Quest," Journal of Economic Surveys, Wiley Blackwell, vol. 28(3), pages 491-515, July.
    4. Darcy W E Allen, 2020. "When Entrepreneurs Meet:The Collective Governance of New Ideas," World Scientific Books, World Scientific Publishing Co. Pte. Ltd., number q0269, January.
    5. Kwangsu Kim, 2014. "Adam Smith's and Douglass North's Multidisciplinary Approach to Economic Development," American Journal of Economics and Sociology, Wiley Blackwell, vol. 73(1), pages 3-31, January.
    6. Essiane, Patrick-Nelson Daniel, 2020. "De l'Ancienne Economie Institutionnelle à la Nouvelle Economie Institutionnelle: une introduction à quelques débats [Old Institutional Economics and New Institutional Economics: an Introduction to ," MPRA Paper 102858, University Library of Munich, Germany.
    7. Steven G. Medema, 2020. "The Coase Theorem at Sixty," Journal of Economic Literature, American Economic Association, vol. 58(4), pages 1045-1128, December.
    8. Ashok Chakravarti, 2012. "Institutions, Economic Performance and the Visible Hand," Books, Edward Elgar Publishing, number 14751.
    9. Milan Žák & Petr Vymětal, 2006. "Institucionální aspekty nové komparativní ekonomie: ČR a EU [Institutional aspects of new comparative economy: Czech republic and European union]," Politická ekonomie, Prague University of Economics and Business, vol. 2006(5), pages 583-609.
    10. Trent J. MacDonald, 2019. "The Political Economy of Non-Territorial Exit," Books, Edward Elgar Publishing, number 18871.
    11. Serkan Degirmenci, 2011. "Do Institutions Matter for Regional Economic Growth and Development? The Case of Turkey," ERSA conference papers ersa11p1374, European Regional Science Association.
    12. ., 2019. "Economic theory of non-territorial unbundling," Chapters, in: The Political Economy of Non-Territorial Exit, chapter 1, pages 14-38, Edward Elgar Publishing.
    13. ROUGIER Eric, 2015. ""The parts and the whole”: Unbundling and re-bundling institutional systems and their effect on economic development," Cahiers du GREThA (2007-2019) 2015-12, Groupe de Recherche en Economie Théorique et Appliquée (GREThA).
    14. Serkan Degirmenci, 2011. "Do Institutions Matter for Regional Economic Growth and Development? The Case of Turkey," ERSA conference papers ersa11p1180, European Regional Science Association.
    15. Peter Lloyd & Cassey Lee, 2018. "A Review Of The Recent Literature On The Institutional Economics Analysis Of The Long†Run Performance Of Nations," Journal of Economic Surveys, Wiley Blackwell, vol. 32(1), pages 1-22, February.
    16. Costanza, Robert & de Groot, Rudolf & Braat, Leon & Kubiszewski, Ida & Fioramonti, Lorenzo & Sutton, Paul & Farber, Steve & Grasso, Monica, 2017. "Twenty years of ecosystem services: How far have we come and how far do we still need to go?," Ecosystem Services, Elsevier, vol. 28(PA), pages 1-16.
    17. Luis Alfonso Dau & Aya S. Chacar & Marjorie A. Lyles & Jiatao Li, 2022. "Informal institutions and international business: Toward an integrative research agenda," Journal of International Business Studies, Palgrave Macmillan;Academy of International Business, vol. 53(6), pages 985-1010, August.
    18. Torsten Heinrich & Henning Schwardt, 2013. "Institutional Inertia and Institutional Change in an Expanding Normal-Form Game," Games, MDPI, vol. 4(3), pages 1-28, August.
    19. Ambrosino, Angela & Fontana, Magda & Gigante, Anna Azzurra, 2015. "Shifting Boundaries in Economics: the Institutional Cognitive Strand," Department of Economics and Statistics Cognetti de Martiis. Working Papers 201544, University of Turin.
    20. Judit Kozenkow, 2013. "New institutional economics: Foundations and latest trends," Society and Economy, Akadémiai Kiadó, Hungary, vol. 35(1), pages 87-101, April.

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:eee:ecoser:v:29:y:2018:i:pb:p:370-380. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Catherine Liu (email available below). General contact details of provider: https://www.journals.elsevier.com/ecosystem-services .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.