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The new institutional economics

  • Kherallah, Mylène
  • Kirsten, Johann

This paper summarizes the potential contributions of the new institutional economics to agricultural policy research, with particular emphasis on developing countries. The paper provides an overview of the new institutional economics and its several branches of thought. It then describes the future challenges facing world agriculture and shows the potential applications of new institutional and transaction costs economics to agricultural policy analysis in this new world environment. The paper concludes by providing specific examples of interest in the area of agricultural market research in developing countries that can be analyzed using the new institutional economics.

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Paper provided by International Food Policy Research Institute (IFPRI) in its series MTID discussion papers with number 41.

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Date of creation: 2001
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Handle: RePEc:fpr:mtiddp:41
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  5. Bardhan, Pranab, 1989. "The new institutional economics and development theory: A brief critical assessment," World Development, Elsevier, vol. 17(9), pages 1389-1395, September.
  6. George J. Stigler, 1961. "The Economics of Information," Journal of Political Economy, University of Chicago Press, vol. 69, pages 213.
  7. Richard Arnott & Bruce Greenwald & Joseph E. Stiglitz, 1993. "Information and Economic Efficiency," NBER Working Papers 4533, National Bureau of Economic Research, Inc.
  8. 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.
  9. Cook, Michael L. & Chaddad, Fabio R., 2000. "Agroindustrialization of the global agrifood economy: bridging development economics and agribusiness research," Agricultural Economics, Blackwell, vol. 23(3), pages 207-218, September.
  10. Stiglitz, Joseph E, 1985. "Information and Economic Analysis: A Perspective," Economic Journal, Royal Economic Society, vol. 95(380a), pages 21-41, Supplemen.
  11. Fafchamps, Marcel & Minten, Bart, 1998. "Relationships and traders in Madagascar," MTID discussion papers 24, International Food Policy Research Institute (IFPRI).
  12. Unnevehr, Laurian J., 2000. "Food safety issues and fresh food product exports from LDCs," Agricultural Economics of Agricultural Economists, International Association of Agricultural Economists, vol. 23(3), September.
  13. Meinzen-Dick, Ruth Suseela & Raju, K. V. & Gulati, Ashok, 2000. "What affects organization and collective action for managing resources?: evidence from canal irrigation systems in India," EPTD discussion papers 61, International Food Policy Research Institute (IFPRI).
  14. Boehlje, Michael & Doering, Otto C., III, 2000. "Farm Policy In An Industrialized Agriculture," Journal of Agribusiness, Agricultural Economics Association of Georgia, vol. 18(1), March.
  15. Richard A. Posner, 1974. "Theories of Economic Regulation," NBER Working Papers 0041, National Bureau of Economic Research, Inc.
  16. Jill E. Hobbs, 1997. "Measuring the Importance of Transaction Costs in Cattle Marketing," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 79(4), pages 1083-1095.
  17. Posner, Richard A., 1984. "Wealth maximization and judicial decision-making," International Review of Law and Economics, Elsevier, vol. 4(2), pages 131-135, December.
  18. Olson, Mancur & Kahkohnen, Satu (ed.), 2000. "A Not-so-dismal Science: A Broader View of Economies and Societies," OUP Catalogue, Oxford University Press, number 9780198294900, March.
  19. Oliver Hart & Sanford Grossman, 1985. "The Costs and Benefits of Ownership: A Theory of Vertical and Lateral Integration," Working papers 372, Massachusetts Institute of Technology (MIT), Department of Economics.
  20. Akerlof, George A, 1970. "The Market for 'Lemons': Quality Uncertainty and the Market Mechanism," The Quarterly Journal of Economics, MIT Press, vol. 84(3), pages 488-500, August.
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  22. Drabenstott, Mark, 1995. "Agricultural Industrialization: Implications For Economic Development And Public Policy," Journal of Agricultural and Applied Economics, Southern Agricultural Economics Association, vol. 27(01), July.
  23. Stiglitz, Joseph E & Weiss, Andrew, 1981. "Credit Rationing in Markets with Imperfect Information," American Economic Review, American Economic Association, vol. 71(3), pages 393-410, June.
  24. Nigel Key & Elisabeth Sadoulet & Alain De Janvry, 2000. "Transactions Costs and Agricultural Household Supply Response," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 82(2), pages 245-259.
  25. Coase, Ronald, 1998. "The New Institutional Economics," American Economic Review, American Economic Association, vol. 88(2), pages 72-74, May.
  26. Steven Were Omamo, 1998. "Transport Costs and Smallholder Cropping Choices: An Application to Siaya District, Kenya," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 80(1), pages 116-123.
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