The Politics of Order in Informal Markets
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About the Product
Item Description:
Property rights are crucial for economic exchange, yet many governments fail to protect them. Private market organizations can bridge this gap by offering an institutional framework for enforcing agreements. However, this power also allows them to extort group members. This book explores the circumstances under which private organizations can foster a stable environment for economic activity.
Drawing on market case studies and a representative survey of traders in Lagos, Nigeria, the author contends that threats from the government can compel an association to adopt practices that promote trade. The findings contradict the prevailing view that private good governance in developing nations flourishes when the government refrains from interfering in private group matters. Instead, the book argues that leaders among traders engage in trade-promoting behaviors predominantly due to the risk of government intervention.
Format: Hardcover
Language: English
Book Title: Shelby Grossman
Author: The Politics of Order in Informal Markets
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