2005
DOI: 10.1111/j.0012-155x.2005.00400.x
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Institutions, Markets and Economic Co-ordination: Linking Development Policy to Theory and Praxis

Abstract: This article explores policy applications of 'new institutional economics' theory in relation to markets and economic development. It argues for application of an analytical framework which instead of looking at institutions primarily in terms of their contributions to making competitive markets work better, sees such markets as one form of institution fulfilling exchange and co-ordination functions in an economy. A key element in this is recognition of the importance of processes of change in non-standard mar… Show more

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Cited by 112 publications
(73 citation statements)
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“…The longer the system operates and provides people with the alleged security and prosperity, the more its principles strike roots in the public mind [21,22].…”
Section: Development Specifics Of Social Innovationmentioning
confidence: 99%
See 1 more Smart Citation
“…The longer the system operates and provides people with the alleged security and prosperity, the more its principles strike roots in the public mind [21,22].…”
Section: Development Specifics Of Social Innovationmentioning
confidence: 99%
“…Adhering to theoretical and methodological principles of institutional engineering and social innovation development, and data of the empirical study, we shall spotlight initiative development issues, issues of scaling and diffusion of social innovations [6,27,21].…”
Section: Designing Institutional Changes In Social Innovationmentioning
confidence: 99%
“…Morrison and C. Poulton (2005) are strong historical, theoretical and practical grounds for more consistent policy in co-ordination functions at institutions in an economy.…”
Section: The Theorymentioning
confidence: 99%
“…However, several constraints prevent them from actually meeting the quality requirements (Poulton et al, 2010). In addition to a lack of productive assets, low degree of education and poor infrastructure, smallholder farmers face important institutional constraints that prevent them from producing for and transacting in high quality food chains (Dorward et al, 2005;World Bank, 2007).…”
Section: Introductionmentioning
confidence: 99%