Mechanisms Of Governance Of Sustainble Development
In this paper we incorporate the interdisciplinary New Institutional and Transaction Costs Economics (combining Economics, Organization, Law, Sociology, Behavioural and Political Sciences), and suggest a framework for analyzing the mechanisms of governance of sustainable development. Our new approach takes into account the role of specific institutional environment; and the behavioural characteristics of individual agents (personal preferences, bounded rationality, tendency for opportunism, trust, risk aversion); and the transaction costs associated with the various forms of governance; and the critical factors of economic activity and exchanges (such as appropriability, frequency, uncertainty, and asset specificity of transactions); and the comparative efficiency of market, private, public and hybrid modes; and the potential of production structures for adaptation; and the comparative efficiency of alternative modes for public intervention. Agricultural sector is used to illustrate that new approach and support with examples.
Volume (Year): 4 (2009)
Issue (Month): 2(8)_ Summer 2009 ()
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- Demsetz, Harold, 1969. "Information and Efficiency: Another Viewpoint," Journal of Law and Economics, University of Chicago Press, vol. 12(1), pages 1-22, April.
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- Hrabrin Bachev, 2005. "Framework For Assessing Sustainability Of Farms," Microeconomics 0511003, EconWPA.
- Hrabrin Bachev, 2005. "Efficiecy Of Agrarian Organisations," Microeconomics 0511002, EconWPA.
- Bachev, Hrabrin, 2008. "Governing of agrarian sustainability," MPRA Paper 7772, University Library of Munich, Germany.
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