Communities and Markets in Economic Development

Edited by Masahiko Aoki and The late Yujiro Hayami

Top class contributors
New approach to classification of economic systems
Topical discussion of control of common land
Links to social capital

Communities and Markets in Economic Development

Edited by Masahiko Aoki and The late Yujiro Hayami

Description

This book explores the role of community in facilitating the transition to market relationships in economic development, and in controlling and sustaining local public goods such as irrigation, forests, grazing land, and fishing grounds. Previously it was customary to classify economic systems in terms of varying combinations of state and market control of resource allocation. In contrast, this book recognizes community as the third major element of economic systems. This new approach also departs from the conventional view that markets and community norms should be treated as mutually exclusive means of organizing economic activity, instead clarifying the situations in which they may become complementary. Further discussion focuses on the conditions under which management of local commons can, and should, be delegated to local communities rather than subjected to the control of central government.

These and other issues are investigated by twenty-one leading scholars from economic history, development economics, agricultural economics, and institutional economics. The resulting volume is the latest in a set of four books about East Asian developmental experiences, co-sponsored by the Economic Institute of the World Bank and the Stanford Institute of Economic Policy Research. It will appeal to economists and other social scientists with an interest in economic development, history, comparative systems, and institutional economics.

Communities and Markets in Economic Development

Edited by Masahiko Aoki and The late Yujiro Hayami

Introduction: Communities and Markets in Economic Development, Masahiko Aoki and Yujiro Hayami
Part I. Theoretical and Historical Perspectives
1:Impersonal Exchange and the Origin of Markets: From the Community Responsibility System to Individual Legal Responsibility in Pre-modern Europe, Avner Greif
2:Community and Market in England: Open Fields and Enclosures Revisited, Robert C. Allen
3:The Two Paths of Agrarian System Evolution in the Philippine Rice Bowl, Yujiro Hayami and Masao Kikuchi
4:Community Norms and Embeddedness: A Game-Theoretic Approach, Masahiko Aoki
Part II. Community in Market Development
5:Middlemen in a Peasant Community: Vegetable Marketing in Indonesia, Yujiro Hayami and Toshihiko Kawagoe
6:Market Integrators for Rural-based Industrialization: The Case of the Hand-Weaving Industry in Laos, Akihiko Ohno
7:The Role of Business Networks in Market Development in Sub-Saharan Africa, Marcel Fafchamps
8:Risk and Insurance in Transition: Perspectives from Zhouping County, China, Jonathan Morduch and Terry Sicular
Part III. Governance of Local Commons
9:Water Community: An Empirical Analysis of Cooperation on Irrigation in South India, Pranab Bardhan
10:State and Community in the Deterioration of a National Irrigation System, Masao Kikuchi, Masako Fujita, and Yujiro Hayami
11:Evolution and Consequences of Community Forest Management in the Hill Region of Nepal, Keijiro Otsuka and Towa Tachibana
12:Liberal Reforms and Community Responses in Mexico, Alain de Janvry, Céline Dutilly, Carlos Muñoz-Piña, and Elisabeth Sadoulet
13:Community Arrangements to Overcome Market Failures: Pooling Groups in Japanese Fisheries, Jean-Philippe Platteau and Erika Seki
14:Comments, Douglass North

Communities and Markets in Economic Development

Edited by Masahiko Aoki and The late Yujiro Hayami

Author Information

Edited by Masahiko Aoki, Henri and Tomoye Takahashi Professor, Economics Department, Stanford University, and Director General, Research Institute, Ministry of International Trade and Industry, Government of Japan, and The late Yujiro Hayami, Director, FASID Graduate Programme, and Professor, National Graduate Institute for Policy Studies, Japan

Communities and Markets in Economic Development

Edited by Masahiko Aoki and The late Yujiro Hayami

Reviews and Awards

"... a highly stimulating volume with a sharp focus and a coherent theme. Both academic researchers and policy-makers would benefit immensely from a careful reading of the rich and scholarly papers." - Development and Change

"... a collection that illuminates a wide range of analytical and policy concerns with rare originality and scholarship." - Development and Change