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Institutional Innovations to Reduce High Transaction Costs and Risks in Smallholder Markets in Ghana

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  • Alfred Mensah

Abstract

This article analyses institutional innovations to address high transaction costs and risks involved in the interaction between traders (agents) and smallholder farmers in rural markets of Ghana. A mixed methods design was used to collect data from participants. The findings from the study revealed possible institutional innovations to address high transaction costs and risks to facilitate smallholder farmers' market access in rural agricultural markers of Ghana. These include the introduction of a new contract farming arrangement, cooperative society, smallholder farmers’ participation in decision-making, and the government's direct intervention.

Suggested Citation

  • Alfred Mensah, 2022. "Institutional Innovations to Reduce High Transaction Costs and Risks in Smallholder Markets in Ghana," European Journal of Development Studies, European Open Science, vol. 2(4), pages 79-84, July.
    • Handle: RePEc:epw:develo:v:2:y:2022:i:4:id:15147
    DOI: 10.24018/ejdevelop.2022.2.4.147
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    References listed on IDEAS

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    1. Phakathi, Sandile & Sinyolo, Sikhulumile & Marire, Juniors & Fraser, Gavin, 2021. "Farmer-led institutional innovations in managing smallholder irrigation schemes in KwaZulu-Natal and Eastern Cape Provinces, South Africa," Agricultural Water Management, Elsevier, vol. 248(C).
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    3. B.C. Okoye & A. Abass & B. Bachwenkizi & G. Asumugha & B. Alenkhe & R. Ranaivoson & R. Randrianarivelo & N. Rabemanantsoa & I. Ralimanana, 2016. "Effect of transaction costs on market participation among smallholder cassava farmers in Central Madagascar," Cogent Economics & Finance, Taylor & Francis Journals, vol. 4(1), pages 1143597-114, December.
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