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New Institutional Economics and its Application to Agricultural Development
Tamil Nadu Agricultural University.

Reading Materials
Theoretical Readings
  1. Poulton, Colin, Andrew Dorward, Jonathan Kydd, Nigel Poole and Lawrence Smith. (1998). "A New Institutional Economics Perspective on Current Policy Debates," chapter 1 in Smallholder Cash Crop Production Under Market Liberalisation - A New Institutional Economics Perspective, ed. A. Dorward, J. Kydd and C. Poulton, CAB International, Oxon: United Kingdom.

  2. Bardhan, Pranab. (1989). "The New Institutional Economics and Development Theory: A Brief Critical Assessment." World Development, Vol. 17: 1389-1395.

  3. Bardhan, Pranab. (1989). "Alternative Approaches to the Theory of Institutions in Economic Development," chapter 1 in The Economic Theory of Agrarian Institutions, ed. Pranab Bardhan, Oxford University Press: New York.

  4. Sadoulet, Elisabeth and Alain de Janvry. (1985). Chapter 9: Transaction Costs and Agrarian Institutions, in Quantitative Development Policy Analysis, Johns Hopkins University Press: Baltimore, Maryland.

  5. Hubbard, Michael. (1997). "The 'New Institutional Economics' in Agricultural Development: Insights and Challenges." Journal of Agricultural Economics, Vol. 48: 239-249.

  6. Arnhart, Larry. (undated). "What is New Institutional Economics?" unpublished essay, Northern Illinois University: USA.

  7. North, Douglass C. (1994). "Constraints on Institutional Innovation: Transaction costs, incentive compatibility, and historical considerations," in Agriculture, Environment, and Health: Sustainable Development in the 21st Century, ed. Vernon W. Ruttan, University of Minnesota Press: Minneapolis, Minnesota.

  8. North, Douglass C. (undated). "The New Institutional Economics and Development." Department of Economics, Washington University,:St. Louis, Missouri.

  9. North, Douglass C. (undated). "Institutions, Transactions and Productivity in the Long Run." Department of Economics, Washington University: St. Louis, Missouri.

  10. North, Douglass C. (undated). "Institutional Change: A Framework of Analysis." Department of Economics, Washington University: St. Louis, Missouri.

  11. North, Douglass C. (1997). "The Contribution of the New Institutional Economics to an Understanding of the Transition Problem," UNU/WIDER 1997 Annual Lecture, accessed February 15, 2000.

  12. Stiglitz, Joseph E. (1989). "Rational Peasants, Efficient Institutions and a Theory of Rural Organization: Methodological Remarks for Development Economics," chapter 2 in The Economic Theory of Agrarian Institutions, ed. Pranab Bardhan, Oxford University Press: New York.

  13. Paarlberg, Don. (1993). "The Case for Institutional Economics." American Journal of Agricultural Economics, Vol. 75: 823-827.

  14. Johnson, S. R. (1993). "Emerging Agricultural Institutions in the New Independent States." American Journal of Agricultural Economics, Vol. 75: 828-834.

  15. Breimyer, Harold F. (1993). "Institutional Economics Revisited: Discussion." American Journal of Agricultural Economics, Vol. 75: 835-836.

  16. Bromley, Daniel W. (1993). "Institutional Economics Revisited: Discussion." American Journal of Agricultural Economics, Vol. 75: 837-839.

  17. de Janvry, Alain and Elisabeth Sadoulet. (1992). "Institutional Determinants of Agricultural Policy Making." Proposal Draft. IFPRI Workshop, October 5, 1992, Washington, DC.

  18. Picciotto, Robert. (1995). "Putting Institutional Economics to Work - From Participation to Governance." World Bank Discussion Paper No. 304. World Bank: Washington, DC.

  19. Frey, Bruno. (1993). "An Economic Analysis of the New Institutional Economics," Journal of Institutional and Theoretical Economics. Vol. 149 (1): 351-359.

  20. Furubotn, Eirik G. and Rudolf Richter. (1992). "The New Institutional Economics: An Assessment," in The New Institutional Economics: A Collection of Articles from the Journal of Institutional and Theoretical Economics, ed. Eirik G. Furubotn and Rudolf Richter, Texas A&M University Press: College Station, Texas.

  21. Hutchison, Terence W. (1984). "Institutional Economics Old and New," in The New Institutional Economics: A Collection of Articles from the Journal of Institutional and Theoretical Economics, ed. Eirik G. Furubotn and Rudolf Richter, Texas A&M University Press: College Station, Texas.

  22. de Alessi, Louis. (1990). "Development of the Property Rights Approach," in The New Institutional Economics: A Collection of Articles from the Journal of Institutional and Theoretical Economics, ed. Eirik G. Furubotn and Rudolf Richter, Texas A&M University Press: College Station, Texas.

  23. Juli, Thomas (undated). "A Rational Choice Model of Trade Policies: Incorporating Institutional Economics into Traditional Game Theory." Unpublished paper. Department of Economics, Washington University: St. Louis, Missouri.

  24. Hodgson, Geoffrey M. (1998). The Approach of Institutional Economics. Journal of Economic Literature, Vol. 36: 166-192.

Applied Readings
  1. Gabre-Madhin, Eleni Z. (1999). "Transaction Costs and Market Institutions: Grain Brokers in Ethiopia," MSSD Discussion Paper No. 31, International Food Policy Research Institute: Washington, DC.

  2. Hobbs, Jill E. (1997). "Measuring the Importance of Transaction Costs in Cattle Marketing," American Journal of Agricultural Economics, Vol. 79: 1083-1095.

  3. Floro, Sagrario and Pan A. Yotopoulos. (1991). "Informal Credit Markets and the New Institutional Economics - The Case of Philippine Agriculture," Westview Press:, Boulder, Colorado.

  4. Grosh, Barbara. (1994). "Contract Farming in Africa: An Application of the New Institutional Economics," Journal of African Economics, Vol. 3: 231-261.

  5. Leonard, David K. (1993). "Structural Reform of the Veterinary Profession in Africa," Development and Change, Vol. 24, No. 2.

  6. Nugent, Jeffrey B. and Nicolas Sanchez. (1993). "Tribes, Chiefs, and Transhumance: A Comparative Institutional Analysis," Economic Development and Cultural Change, Vol. 42, No. 1.

  7. Livingston, Marie L. (1993). "Normative and Positive Aspects of Institutional Economics: The Implications for Water Policy," Water Resources Research, Vol. 29, No. 4.

  8. Feige, Edgar L. (1990). "Defining and Estimating Underground and Informal Economics: The New Institutional Economics Approach," World Development, Vol. 18, No. 7.

  9. Nee, Victor and Frank W. Young. (1991). "Peasant Entrepreneurs in China's "Second Economy": An Institutional Analysis," Economic Development and Cultural Change, Vol. 39, No. 2.

  10. Hesse, Gunter. (1992). "Land use systems and property rights - Evolutionary versus new institutional economics," Journal of Evolutionary Economics, 2: 195-210.
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