THE INSTITUTIONAL ECONOMICS OF RURAL DEVELOPMENT: BEYOND MARKET FAILURE

摘要: This paper examines and compares institutional arrangements addressing market failures endemic to rural areas. It argues that cannot be satisfactorily addressed by for-profit firms thus require the operation of third sector organizations, such as NGOs, cooperatives, associations. The important role these organizations in development is explained particular severity inhibit markets constrain firms. argument applied tourism Central Eastern Europe. tourist this region are shown fail a number ways recourse associations other relevant organizations. concludes with calling for further research on developing economic theory sector.