- Title
- Institutions and economic research: a case of location externalities on agricultural resource allocation in the Kat River basin, South Africa
- Creator
- Mbatha, Cyril N, Antrobus, Geoffrey G
- Date
- 2010
- Type
- text
- Type
- article
- Identifier
- http://hdl.handle.net/10962/142991
- Identifier
- vital:38183
- Identifier
- DOI: 10.1080/03031853.2013.798069
- Description
- The Physical Externality Model is used to illustrate the potential limitations of blindly adopting formal models for economic investigation and explanation in varied geographical contexts. As argued by institutional economists for the last hundred years the practice limits the value and relevance of most general economic inquiry. This model postulates that the geographical location of farmers along a given watercourse, in which water is diverted individually, leads to structural inefficiencies that negatively affect the whole farming community. These effects are felt more severely at downstream sites and lead to a status quo where upstream farmers possess relative economic and political advantages over their counterparts elsewhere. In the study of the Kat River basin these predictions appear to be true only in as far as they relate to legal and political allocations and use of water resources.
- Format
- 22 pages, pdf
- Language
- English
- Relation
- Agrekon, Mbatha, C.N. and Antrobus, G.G., 2008. Institutions and economic research: a case of location externalities on agricultural resource allocation in the Kat River basin, South Africa. Agrekon, 47(4), pp.470-491., Agrekon volume 47 number 4 470 491 May 2010 2078-0400
- Rights
- Publisher
- Rights
- Use of this resource is governed by the terms and conditions of the Taylor and Francis Online Terms and Conditions Statement (https://www.tandfonline.com/terms-and-conditions)
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Mbatha, Cyril Nhlanhla (Prof)
Antrobus, Geoffrey Gordon (Prof Emeritus)
RU Institute of Social and Economic Research (ISER)
RU Department of Economics and Economic History
SDG 08. Decent Work and Economic Growth
SDG 11. Sustainable Cities and Communities
SDG 17. Partnerships for the Goals
| Thumbnail | File | Description | Size | Format | |||
|---|---|---|---|---|---|---|---|
| View Details | SOURCE1 | Institutions and economic research.pdf | 627 KB | Adobe Acrobat PDF | View Details |