IDEAS home Printed from https://ideas.repec.org/p/pra/mprapa/94577.html
   My bibliography  Save this paper

Understanding market failure in the developing country context

Author

Listed:
  • Jackson, Emerson Abraham
  • Jabbie, Mohamed

Abstract

Market failure makes it difficult to achieve the condition of economic efficiency by distorting price mechanisms and normal distribution of goods and services thereby, leading to welfare loss. They are entrenched in the socio-economic fabrics of most developing countries, underpinned by the lack of well-functioning market structures and economic systems – which are supposed to make the market economy resilient to such economic shortcomings.

Suggested Citation

  • Jackson, Emerson Abraham & Jabbie, Mohamed, 2019. "Understanding market failure in the developing country context," MPRA Paper 94577, University Library of Munich, Germany, revised 07 Feb 2019.
    • Handle: RePEc:pra:mprapa:94577
    as

    Download full text from publisher

    File URL: https://mpra.ub.uni-muenchen.de/94577/1/MPRA_paper_94577.pdf
    File Function: original version
    Download Restriction: no
    ---><---

    Other versions of this item:

    References listed on IDEAS

    as
    1. Wolf, Charles, Jr, 1979. "A Theory of Nonmarket Failure: Framework for Implementation Analysis," Journal of Law and Economics, University of Chicago Press, vol. 22(1), pages 107-139, April.
    2. Rai, Shirin M. & Brown, Benjamin D. & Ruwanpura, Kanchana N., 2019. "SDG 8: Decent work and economic growth – A gendered analysis," World Development, Elsevier, vol. 113(C), pages 368-380.
    3. Douglas J. McCauley, 2006. "Selling out on nature," Nature, Nature, vol. 443(7107), pages 27-28, September.
    4. Jackson, Emerson Abraham, 2018. "Political Economy of Forest Ecology in Sierra Leone: A focus on the Western Area Peninsular Forest (WAPFoR)," EconStor Open Access Articles and Book Chapters, ZBW - Leibniz Information Centre for Economics, vol. 9(1), pages 63-90.
    5. Jackson, Emerson Abraham, 2016. "Phronesis and Resource Curse Hypothesis in Post-Independent Sierra Leone," EconStor Open Access Articles and Book Chapters, ZBW - Leibniz Information Centre for Economics, vol. 3, pages 1-11.
    6. R. G. Lipsey & Kelvin Lancaster, 1956. "The General Theory of Second Best," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 24(1), pages 11-32.
    7. Altenburg, Tilman, 2011. "Industrial policy in developing countries: overview and lessons from seven country cases," IDOS Discussion Papers 4/2011, German Institute of Development and Sustainability (IDOS).
    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. Rafael Sánchez & Javier Finot & Mauricio G. Villena, 2022. "Gender wage gap and firm market power: evidence from Chile," Applied Economics, Taylor & Francis Journals, vol. 54(18), pages 2109-2121, April.
    2. Jackson, Emerson Abraham, 2020. "Economics of Technology Innovation for Sustainable Growth – With reference to Sub-Saharan Africa (SSA)," MPRA Paper 101787, University Library of Munich, Germany, revised 27 May 2020.
    3. Jackson, Emerson Abraham, 2020. "Understanding SLL / US$ exchange rate dynamics in Sierra Leone using Box-Jenkins ARIMA approach," MPRA Paper 97965, University Library of Munich, Germany, revised 03 Jan 2020.
    4. Jackson, Emerson Abraham, 2020. "Importance of the Public Service in Achieving the UN SDGs," MPRA Paper 101806, University Library of Munich, Germany, revised 02 Jun 2020.
    5. Jackson, Emerson Abraham, 2019. "Systemic health care failure as a symptom of Market Failure in Sierra Leone," EconStor Open Access Articles and Book Chapters, ZBW - Leibniz Information Centre for Economics, issue Forthcomi.
    6. Jackson, Emerson Abraham & Jackson, Elijah & Jackson, Hudson, 2020. "Nurturing Career Development for Human Sustainablel Development," MPRA Paper 110820, University Library of Munich, Germany, revised 01 Jan 2020.
    7. Sanchez, Rafael & Finot, Javier & Villena, Mauricio G., 2019. "Gender Wage Gap and Firm Market Power in Chile," MPRA Paper 99149, University Library of Munich, Germany, revised 01 Sep 2019.
    8. Jackson, Emerson Abraham, 2020. "Emerging Innovative Thoughts on Globalization amidst the Contageon of COVID-19," MPRA Paper 101789, University Library of Munich, Germany, revised 27 May 2020.
    9. Jackson, Emerson Abraham, 2020. "Fostering Sustainable Innovation through Creative Destruction Theory," MPRA Paper 102174, University Library of Munich, Germany, revised 21 Mar 2020.
    10. Emerson JACKSON & Mohamed JABBIE, 2020. "Twin Deficits Hypothesis as an Indication of Government Failure in Sierra Leone: An Empirical Investigation (1980-2018)," Journal of Economic Policy Researches, Istanbul University, Faculty of Economics, vol. 7(1), pages 42-68, January.
    11. Jackson, Emerson Abraham, 2019. "Informal Employment," MPRA Paper 97902, University Library of Munich, Germany, revised 02 Dec 2019.
    12. Jackson, Emerson Abraham & Jabbie, Mohamed, 2020. "Import Substitution Industrialization [ISI]: An approach to Global Economic Sustainability," MPRA Paper 102316, University Library of Munich, Germany, revised 03 Jul 2020.
    13. Jackson, Emerson Abraham & Tamuke, Edmund & Jabbie, Mohamed, 2019. "Disaggregated Short-Term Inflation Forecast (STIF) for Monetary Policy Decision in Sierra Leone," MPRA Paper 96735, University Library of Munich, Germany, revised 26 Nov 2019.
    14. Jackson, Emerson Abraham & Jackson, Elijah & Jackson, Hudson, 2020. "Nurturing Career Development for human resource sustainable development," MPRA Paper 114161, University Library of Munich, Germany, revised 01 Jan 2020.
    15. Jackson, Emerson Abraham, 2019. "Global Perspectives on Gender Sensitivity and Economic Benefits," MPRA Paper 101788, University Library of Munich, Germany, revised 27 May 2020.

    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. Dikau, Simon & Volz, Ulrich, 2021. "Central bank mandates, sustainability objectives and the promotion of green finance," Ecological Economics, Elsevier, vol. 184(C).
    2. Jackson, Emerson Abraham, 2019. "Informal Employment," MPRA Paper 97902, University Library of Munich, Germany, revised 02 Dec 2019.
    3. Emmanuel Petrakis & Panagiotis Skartados, 2022. "Vertical Opportunism, Bargaining, and Share-Based Agreements," Review of Industrial Organization, Springer;The Industrial Organization Society, vol. 60(4), pages 549-565, June.
    4. Jonathan M. Lee, 2015. "The Impact of Heterogeneous NOx Regulations on Distributed Electricity Generation in U.S. Manufacturing," Working Papers 15-12, Center for Economic Studies, U.S. Census Bureau.
    5. McGrath, F.L. & Carrasco, L.R. & Leimona, B., 2017. "How auctions to allocate payments for ecosystem services contracts impact social equity," Ecosystem Services, Elsevier, vol. 25(C), pages 44-55.
    6. Sergio Turner, 2004. "Pareto Improving Taxation in Incomplete Markets," Econometric Society 2004 Latin American Meetings 310, Econometric Society.
    7. Kala Krishna & Abhiroop Mukhopadhyay & Cemile Yavas, 2005. "Trade with Labor Market Distortions and Heterogeneous Labor: Why Trade Can Hurt," Contributions to Economics, in: Günter S. Heiduk & Kar-yiu Wong (ed.), WTO and World Trade, pages 65-83, Springer.
    8. Hakim Hammadou & Claire Papaix, 2015. "Policy packages for modal shift and CO2 reduction in Lille, France," Working Papers 1501, Chaire Economie du climat.
    9. van Mierlo, J.G.A., 1996. "The experience of OECD countries with public management reform and its relevance to Central and Eastern Europe," Research Memorandum 038, Maastricht University, Maastricht Research School of Economics of Technology and Organization (METEOR).
    10. Michael Bates & Michael Dinerstein & Andrew C. Johnston & Isaac Sorkin, 2022. "Teacher Labor Market Equilibrium and Student Achievement," CESifo Working Paper Series 9551, CESifo.
    11. Juan Carlos De Pablo, 2001. "Ideas, intereses y valores," CEMA Working Papers: Serie Documentos de Trabajo. 196, Universidad del CEMA.
    12. Morrison, Alan & Lóránth, Gyöngyi, 2009. "Internal Reporting Systems, Compensation Contracts, and Bank Regulation," CEPR Discussion Papers 7155, C.E.P.R. Discussion Papers.
    13. Venables, Anthony & Duranton, Gilles, 2018. "Place-Based Policies for Development," CEPR Discussion Papers 12889, C.E.P.R. Discussion Papers.
    14. Frewer, Geoff, 1985. "Optimal Destabilisation, Active Learning, and the Choice of Step Length in Policy Reform," Economic Research Papers 269230, University of Warwick - Department of Economics.
    15. Odran Bonnet & Guillaume Flamerie de La Chapelle & Alain Trannoy & Etienne Wasmer, 2019. "Secular Trends in Wealth and Heterogeneous Capital: Land is Back... and Should Be Taxed," Working Papers hal-03570837, HAL.
    16. David S. Evans & Richard Schmalensee, 2005. "The economics of interchange fees and their regulation : an overview," Proceedings – Payments System Research Conferences, Federal Reserve Bank of Kansas City, issue May, pages 73-120.
    17. Key, Nigel D. & Kaplan, Jonathan D., 2007. "Multiple Environmental Externalities and Manure Management Policy," Journal of Agricultural and Resource Economics, Western Agricultural Economics Association, vol. 32(1), pages 1-20, April.
    18. Hideo Konishi & Carsten Kowalczyk & Tomas Sjostrom, 2003. "Free Trade, Customs Unions, and Transfers," Boston College Working Papers in Economics 568, Boston College Department of Economics.
    19. Alexander Galetovic & Ángel Cabrera, "undated". "Tópicos en la Economía de la Investigación Tecnológica," Documentos de Trabajo 121, Instituto de Economia. Pontificia Universidad Católica de Chile..
    20. Omar Al-Ubaydli & John List, 2016. "Field Experiments in Markets," Artefactual Field Experiments j0002, The Field Experiments Website.

    More about this item

    Keywords

    Market Failure; Developing Countries;

    JEL classification:

    • H0 - Public Economics - - General
    • H44 - Public Economics - - Publicly Provided Goods - - - Publicly Provided Goods: Mixed Markets

    NEP fields

    This paper has been announced in the following NEP Reports:

    Statistics

    Access and download statistics

    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:pra:mprapa:94577. 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: Joachim Winter (email available below). General contact details of provider: https://edirc.repec.org/data/vfmunde.html .

    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.