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Governing of agrarian sustainability
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In this paper, the New Institutional and Transaction Costs Economics (NICS) methodology is incorporated into agrarian sphere, and a framework for governing of agrarians sustainability is suggested.Abstract:
The new developing interdisciplinary methodology of the New Institutional and Transaction Costs Economics (combining Economics, Organization, Law, Sociology, Behavioral and Political Sciences) is incorporated into agrarian sphere, and a framework for governing of agrarian sustainability suggested It takes into account the role of the specific institutional environment (formal and informal property rights, and systems of their enforcement); and the behavioral characteristics of individuals (bounded rationality, tendency for opportunism, entrepreneurships, preferences, risk aversion etc); and the transaction costs associated with protection and exchange of property rights; and the critical factors of each transaction (such as frequency, uncertainty, asset specificity, and appropriability); and the comparative efficiency of market, private, public, and hybrid governing modes The discrete structural analysis is applied, and the principle forms for governing of transactions with specific critical dimensions specified The cases of market and private sector failures are identified, and the needs for a third party (Government, international assistance etc) intervention justified The comparative advantages and disadvantages of different modes for public involvement (property rights modernization, regulations, taxes, assistance and support, public provision, hybrid modes) are assessed The effective governance mix for public intervention in environmental transactions is presentedread more
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Hrabrin Bachev,Teruaki Nanseki +1 more
TL;DR: In this article, a new framework for analysis and improvement of environmental management based on the achievements of the New Institutional and Transaction Costs Economics (NICE) is presented, which identifies the major environmental problems and risks in Bulgarian agriculture.
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