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The object of this essay is to describe and analyse contractual relations in two villages in North-east Bihar at a time when the so-called ‘green revolution’ promised much and the region had just started to benefit from canal irrigation. It is against this historical background that I will...
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The main purpose of introducing gold option futures is because option futures on gold will be fundamentally used for hedging the risks associated with gold price changes. But there is a common question whether that gold option contracts are effective in hedging price. This paper will be the...
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To quantify contracting distortions in a real‐world market, we develop and structurally estimate a model of contracting under payoff uncertainty in the south Indian groundwater economy. Uncertainty arises from unpredictable fluctuations in groundwater supply during the agricultural dry season....
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We examine the impact of economic deregulation on employer evasion of union-mandated "formal" wage-contracts in an import-competing industry. We show that, if the state maintains industrial employment despite import liberalisation, through cheaper credit to firms, then employer evasion will...
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certainty and standardization across the value chain. This leads to higher degree of corporatization of agriculture. Corporate … for their own benefits recon-figured value chain and introduced contract farming to minimize the transaction costs in the … those developing countries which have institutional voids. In most of the developing countries, contribution of agriculture …
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