The Economics of Rural Organization: Theory, Practice, and Policy

by Joseph E. Stiglitz (Editor), Karla Ruth Hoff

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 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.

608 pages, Paperback

First published July 8, 1993

About the author

Joseph Eugene Stiglitz, ForMemRS, FBA, is an American economist and a professor at Columbia University. He is a recipient of the Nobel Memorial Prize in Economic Sciences (2001) and the John Bates Clark Medal (1979). He is also the former Senior Vice President and Chief Economist of the World Bank. He is known for his critical view of the management of globalization, free-market economists (whom he calls "free market fundamentalists") and some international institutions like the International Monetary Fund and the World Bank.

In 2000, Stiglitz founded the Initiative for Policy Dialogue (IPD), a think tank on international development based at Columbia University. Since 2001, he has been a member of the Columbia faculty, and has held the rank of University Professor since 2003. He also chairs the University of Manchester's Brooks World Poverty Institute and is a member of the Pontifical Academy of Social Sciences. Professor Stiglitz is also an honorary professor at Tsinghua University School of Public Policy and Management. Stiglitz is one of the most frequently cited economists in the world.