Institutions and economic research: a case of location externalities on agricultural resource allocation in the Kat River basin, South Africa

Mbatha, Cyril N; Antrobus, Geoffrey G

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
Creator: Antrobus, Geoffrey G
Date Issued: 2010
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
Format: pdf
Language: English
Relation: Agrekon
Relation: 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.
Relation: 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 Department of Economics and Economic History

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