The Economics of Rural Organization: Theory, Practice, and Policy (World Bank Publication)

A key to understanding why some rural development policies succeed and some fail is found in this book. The editors contend that established economic models are inadequate to interpret the behavior of rural market and nonmarket institutions. This book investigates the economic institutions, contractual arrangements, and technological constraints found in rural land, labor, and credit markets. Not only does it contribute new empirical evidence and expand economic theory, it also provides fresh insight for agricultural policymaking and institutional reform. Drawing together recent theoretical work, case studies, and historical research, the editors explore some of the most pressing problems facing developing countries: how to promote financial integration of the rural sector, how to rationalize the use of land and water, and how to design and administer rural tax and transfer policies. While some of the theoretical chapters are technical, the overview chapters and most of the case studies are not. These chapters should be accessible to a wide audience of policymakers, academics from many disciplines, and university students.

"Given the quality of the editorial team, this volume of 29 chapters is unsurprisingly valuable for anybody concerned with the economics of agriculture in developing countries...an excellent volume. The standard of writing, theoretical exposition and empirical rigour is high throughout....The book will be a valuable addition to reading lists for graduate courses on rural organisation or the economics of agriculture in developing countries. Overall, the book is recommended reading."--Journal of Agricultural Economics

"A theory such as the one developed in this book...is essential for designing effective development policies. This book is a required reading for academics and policymakers interested in rural development." --Prof. T.N. Srinivasan, Economic Growth Center, Yale University