- Title Pages
- Introduction and Overview
- 1 Measuring Poverty
- 2 Understanding Prosperity and Poverty: Geography, Institutions, and the Reversal of Fortune
- 3 Colonialism, Inequality, and Long-Run Paths of Development
- 4 The Kuznets Curve: Yesterday and Tomorrow
- 5 New Growth Approach to Poverty Alleviation
- 6 Globalization and All That
- 7 The Global Economy and the Poor
- 8 The Role of Agriculture in Development
- 9 Fertility and Income
- 10 Fertility in Developing Countries
- 11 Corruption and Development
- 12 Ethnic Diversity and Poverty Reduction
- 13 Redistribution toward Low Incomes in Richer Countries
- 14 Transfers and Safety Nets in Poor Countries: Revisiting the Trade-Offs and Policy Options
- 15 Poverty Persistence and Design of Antipoverty Policies
- 16 Child Labor
- 17 Policy Dilemmas for Controlling Child Labor
- 18 The Primacy of Education
- 19 Public Goods and Economic Development
- 20 Intellectual Property and Health in Developing Countries
- 21 Public Policies to Stimulate Development of Vaccines for Neglected Diseases
- 22 Microinsurance: The Next Revolution?
- 23 Credit, Intermediation, and Poverty Reduction
- 24 Poor but Rational?
- 25 Better Choices to Reduce Poverty
- 26 Nonmarket Institutions
- 27 Racial Stigma: Toward a New Paradigm for Discrimination Theory
- 28 Aspirations, Poverty, and Economic Change
- (p.389) 26 Nonmarket Institutions
- Understanding Poverty
- Oxford University Press
The pervasiveness and persistence of nonmarket institutions in developing economies demand an explanation from economists. This essay describes what has been learned about these institutions: why they emerge, why they persist, the inefficiencies that are associated with their presence, and how the presence of these institutions might affect the design of development policy. These institutions serve a useful purpose when markets function imperfectly. At the same time, the restrictions on individual behavior within these institutions may leave the community ill equipped to respond to a changing world. This, in turn, suggests a role for policy. How external interventions can help move the community out of its traditional equilibrium when the economic environment changes is discussed.
Oxford Scholarship Online requires a subscription or purchase to access the full text of books within the service. Public users can however freely search the site and view the abstracts and keywords for each book and chapter.
If you think you should have access to this title, please contact your librarian.