Informal Markets in Developing Countries
0
0
As an Amazon Associate and affiliate partner, Menrva Books earns from qualifying purchases. Learn more
Author Description
Examining the importance of personalized interchanges between transactions in developing countries, Jagannathan here argues for the need to refashion the paradigms which underly theories of development by highlighting the importance of informal institutional arrangements in production and exchange. For most of the poor in developing countries, he maintains, wealth often exists in the form of regular behavioral relations that acquire the characteristics of informal property rights. Using the concepts of positive economics, he explains how informal contracts are put to productive and unproductive use. This analysis raises several important policy issues for social scientists interested in economic development.
Menrva's Summary
THE THESIS
This book investigates the critical role of informal institutional arrangements in the economic development of developing nations. N. Vijay Jagannathan, an expert in development economics, challenges traditional development paradigms by demonstrating that wealth for the poor is often embedded in personalized, informal behavioral relations. By applying the framework of positive economics, the author analyzes how these informal contracts function as property rights and influence both productive and unproductive economic outcomes.
THE SCOPE MAP
What You Will Find
- Analysis of informal institutional arrangements in production and exchange.
- Application of positive economics to informal contract theory.
- Examination of how behavioral relations function as informal property rights.
- Discussion of policy implications for social scientists and development practitioners.
THE AUTHORITY PERSPECTIVE
Experts recognize this work as a significant contribution to the study of institutional economics within the context of developing nations. Readers frequently note the author's ability to bridge the gap between abstract economic theory and the practical realities of informal market structures.
Page Count:
150
Publication Date:
1987-09-24
Publisher:
Oxford University Press
ISBN-10:
0195040880
ISBN-13:
9780195040883
Economics
Social Science
Developing Countries
