THE ‘NEW INSTITUTIONAL ECONOMICS’ IN AGRICULTURAL DEVELOPMENT: INSIGHTS AND CHALLENGES
以农业发展为例，讨论了新制度经济学的核心观点（合同性质由市场条件和制度决定，制度随相对价格变化而演变）及其面临的实证挑战，适合关注制度与农业发展的学者判断是否阅读原文。
The insights of the ‘new institutional economics’ (NIE) and the challenges it faces are discussed, using examples from agricultural development. NIE has emerged from the theories of the firm, markets, history and politics. It is characterised by two propositions: (i) the nature of business contracts is determined by uncertainties and assurances arising from market conditions and from prevailing institutions (property rights, conventions, authority structures); (ii) prevailing institutions are altered by social action responding ultimately to trend changes in relative prices. Empirical progress in NIE has resulted from studies of contracting behaviour and has been greatest in measurement of intraindustry transaction costs and relating them to vertical integration among firms. But NIE is at an early stage in the more complex empirical task of analysing relations between markets and prevailing institutions.