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The becoming of a market - A reflection illustrated by two case studies from Uganda

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  • Schmidt, Oliver

Abstract

This paper (9,201 words) argues that there is more to the becoming of a market than income-level of the buyer. A market is a fine webbed institutional setting that is worthwhile for economists to study. It argues that there are five characteristics to look at, namely demand, supply, and beyond the neo-classical model the ability to contract, the location (in space and time) to contract, and the purpose why the market was called into being. The interaction of these five characteristics shapes the development paths of markets. The framework is exemplarily applied to a commodity and a public good market, i. e. fish and minibus (“matatu”) services in Uganda, East Africa since the mid-1980ties.

Suggested Citation

  • Schmidt, Oliver, 2007. "The becoming of a market - A reflection illustrated by two case studies from Uganda," MPRA Paper 5559, University Library of Munich, Germany, revised Oct 2007.
    • Handle: RePEc:pra:mprapa:5559
    as

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    File URL: https://mpra.ub.uni-muenchen.de/5559/1/MPRA_paper_5559.pdf
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    References listed on IDEAS

    as
    1. Kenneth J. Arrow, 2002. "Distributed Information and the Role of the State in the Economy," International Economic Association Series, in: Richard B. Freeman (ed.), Inequality Around the World, chapter 11, pages 268-281, Palgrave Macmillan.
    2. Richard B. Freeman (ed.), 2002. "Inequality Around the World," International Economic Association Series, Palgrave Macmillan, number 978-1-137-09971-6, December.
    3. Casella, Alessandra, 1995. "Free Trade and Evolving Standards," CEPR Discussion Papers 1204, C.E.P.R. Discussion Papers.
    Full references (including those not matched with items on IDEAS)

    Citations

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    Cited by:

    1. Regina Kamuhanda & Oliver Schmidt, 2008. "Matatu: A Case Study of the Core Segment of the Public Transport Market of Kampala, Uganda," Transport Reviews, Taylor & Francis Journals, vol. 29(1), pages 129-142, May.

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    More about this item

    Keywords

    Institutional Setting; Path Dependency; Market Characteristics; Uganda; Fish Market; Public Transport Market;
    All these keywords.

    JEL classification:

    • O12 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Microeconomic Analyses of Economic Development
    • L14 - Industrial Organization - - Market Structure, Firm Strategy, and Market Performance - - - Transactional Relationships; Contracts and Reputation
    • D02 - Microeconomics - - General - - - Institutions: Design, Formation, Operations, and Impact

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