Making a Market - The Institutional Transformation of an African Society

Economists have devoted considerable effort to explaining how a market economy functions, but they have given a good deal less attention to explaining how a market economy is formed. In Making a Market, Jean Ensminger analyses the process by which the market was introduced into the economy of a group of Kenyan pastoralists. Professor Ensminger employs new institutional economic analysis to assess the impact of new market institutions on production and distribution, with particular emphasis on the effect of institutions on decreasing transaction costs over time. This 1993 study traces the effects of increasing commercialisation on the economic well-being of individual households, rich and poor alike, over considerable time and analyses the process by which institutions themselves are transformed as a market economy develops.

Product details

• Authors: Jean Ensminger, Jean (Washington University Ensminger, Ensminger Jean
• Assisted by: Randall Calvert (Editor), Thrainn Eggertsson (Editor)
• Publisher: Cambridge University Press Academic
• Languages: English
• Product format: Paperback / Softback
• Released: 13.09.1996
• EAN: 9780521574266
• ISBN: 978-0-521-57426-6
• Dimensions: 155 mm x 230 mm x 14 mm
• Series: Political Economy of Institutions and Decisions; Print On Demand; Print on Demand; Political Economy of Institutions and Decisions
• Subjects: Social sciences, law, business > Business > Miscellaneous; POLITICAL SCIENCE / Political Economy, Political Economy