An analysis of recent data on the economic behavior of market institutions in sub-Saharan Africa, with implications for future research and current policy. In Market Institutions in Sub-Saharan Africa, Marcel Fafchamps synthesizes the results of recent surveys of indigenous market institutions in twelve countries, including Benin, Ghana, Kenya, Madagascar, Malawi, and Zimbabwe, and presents findings about economics exchange in Africa that have implications both for future research and current policy. Employing empirical data as well as theoretical models that clarify the data, Fafchamps takes as his unifying principle the difficulties of contract enforcement. Arguing that in an unpredictable world contracts are not always likely to be respected, he shows that contract agreements in sub-Saharan Africa are affected by the absence of large hierarchies (both corporate and governmental) and as a result must depend to a greater degree than in more developed economies on social networks and personal trust. Fafchamps considers policy recommendations as they apply to countries in three different stages of development: countries with undeveloped market institutions, like Ghana; countries at an intermediate stage, like Kenya; and countries with developed market institutions, like Zimbabwe. Market Institutions in Sub-Saharan Africa caps ten years of personal research by the author. Fafchamps, in collaboration with such institutions as the Africa Division of the World Bank and the International Food Policy Research Institute, participated in the surveys of manufacturing firms and agricultural traders that provide the empirical basis for the book. The result is a work that makes a significant contribution to research on the continuing economic stagnation of many countries in sub-Saharan Africa and is also largely accessible to researchers in other fields and policy professionals.

This report addresses the overarching question regarding the role of institutions in enhancing market development following market reforms. It uses the New Institutional Economics framework to empirically analyze the role of a specific market institution, that of brokers acting as intermediaries to match traders in the Ethiopian grain market in reducing the transaction costs of search faced by traders. Brokers play a key role in facilitating exchange in a weak marketing environment where limited public market information, the lack of grain standardization, oral contracts, and weak legal enforcement of contracts increase the risk of contract failure. Relying on primary data, it analyzes traders' microeconomic behavior, social capital, the nature and extent of their transaction costs, and the norms and rules governing the relationship between brokers and traders.The study uses an innovative approach to quantify the costs of search and demonstrates that the brokerage institution is economically efficient both for individual traders and for global economic welfare.

Leading scholars examine political, legal, social, and market institutions through a microeconomic lens.

Based on in-depth country case studies, this book offers a novel approach to the role of institutions in early development with special attention devoted to historical context, political constraints and state-business interaction.

"The food problems now facing the world-scarcity and starvation, contamination and illness, overabundance and obesity-are both diverse and complex. What are their causes? How severe are they? Why do they persist? What are the solutions? The authors of the more than sixty international case studies contained in these books approach the food system with a multidisciplinary perspective. In three volumes that serve as valuable teaching tools, they call upon the wisdom of disciplines including economics, nutrition, sociology, anthropology, environmental science, medicine, and geography to create a holistic picture of the state of the world's food systems today. The authors focus in on specific cases from all corners of the globe to cover topics including drought and soil conservation; land allocation and cooperative marketing efforts; and food safety measures and advertising policies. In documenting past successes and failures, these case studies provide a valuable foundation for future research and efforts to create truly successful and sustainable food policy."--Pub. desc.

To improve their well-being, the poor in developing countries have used both collective action through formal and informal groups and property rights to natural resources. Collective Action and Property Rights for Poverty Reduction: Insights from Africa and Asia examines how these two types of institutions, separately and together, influence quality of life and how they can be strengthened to improve the livelihoods of the rural poor. The product of a global research study by the Systemwide Program on Collective Action and Property Rights (CAPRi) of the Consultative Group on International Agricultural Research, this book draws on case studies from East Africa and South and Southeast Asia to investigate how collective action and property rights have contributed to poverty reduction. The book extends the analysis of these institutions beyond their frequently studied role in natural resource management by also examining how they can reduce vulnerability to different types of shocks. Essays in the volume identify opportunities and risks present in the institutions of collective action and property rights. For example, property rights to natural resources can offer a variety of advantages, providing individuals and groups not only with benefits and incomes but also with assets that can counter the negative effects of shocks such as drought, and can make collective action easier. The authors also demonstrate that collective action has the potential to reduce poverty if it includes more vulnerable groups such as women, ethnic minorities, and the very poor. Preventing exclusion of these often-marginalized groups and guaranteeing genuinely inclusive collective action might require special rules and policies. Another danger to the poor is the capture of property rights by elites, which can be the result of privatization and decentralization policies; case studies and analysis identify actions to prevent such elite capture.

This contributed volume serves as an authoritative reference and guide for anyone looking to study or build a brand in Africa. Despite being touted as the ‘last frontier’ of global brands, very little research exists that examines brands and branding in this emerging market. Authors cover crucial topics such as the history of branding in Africa, branding approaches used by start-ups, religious organizations, political parties, and businesses in the informal economies of Africa, as well as marketing Africa as a brand using practical cases, empirical and critical approaches. With the world’s youngest population and the second-fastest growing economies, Africa has quickly become a hotbed for marketing and consumption of local and global brands. While past research has mostly focused on examining the brand image of Africa and African countries, or on branding Africa as a place for tourist consumption, what is missing is a comprehensive guide that discusses the theory and practice of branding and brands in and from Africa. Through theoretical and practical contributions, the authors of this book seek to fill the knowledge gap about branding in and from Africa.

New Institutional Economics (NIE) has skyrocketed in scope and influence over the last three decades. This first Handbook of NIE provides a unique and timely overview of recent developments and broad orientations. Contributions analyse the domain and perspectives of NIE; sections on legal institutions, political institutions, transaction cost economics, governance, contracting, institutional change, and more capture NIE's interdisciplinary nature. This Handbook will be of interest to economists, political scientists, legal scholars, management specialists, sociologists, and others wishing to learn more about this important subject and gain insight into progress made by institutionalists from other disciplines. This compendium of analyses by some of the foremost NIE specialists, including Ronald Coase, Douglass North, Elinor Ostrom, and Oliver Williamson, gives students and new researchers an introduction to the topic and offers established scholars a reference book for their research.

Markets are increasingly seen as vehicles to solve problems in developing countries. For example, improvements in market performance make potentially important contributions to achieve the Millennium Development Goals. Access of smallholders to well-functioning markets is increasingly expected to contribute to poverty alleviation and improvement of both food security and environmental sustainability. This book presents the views of leading experts on where we stand and where we are heading in the field of markets, marketing and developing countries. Twenty essays in this book describe the role of marketing in achieving development goals, the track record of past market policies, the current functioning of value chains, the roles that market institutions play to facilitate market access for smallholders, as well as the potential to add value to farm produce through certification schemes, new technologies or innovation systems. The book is published in honour of the retirement of Aad van Tilburg, one of the pioneers in the field of marketing in developing countries. Early on in his career Van Tilburg recognised that improvements in the functioning of markets and marketing can be key to economic development with special reference to the livelihood of small producers and other market actors in developing countries.