Research Article

Institutional Innovations to Reduce High Transaction Costs and Risks in Smallholder Markets in Ghana

Alfred Mensah
Arden University, London, UK.
* Corresponding author
DOI icon 10.24018/ejdevelop.2022.2.4.147

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Submitted 2022-08-30
Published 2022-10-12

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Article Main Content

This article analyses institutional innovations to address high transaction costs and risks involved in the interaction between traders (agents) and smallholder farmers in rural markets of Ghana. A mixed methods design was used to collect data from participants. The findings from the study revealed possible institutional innovations to address high transaction costs and risks to facilitate smallholder farmers' market access in rural agricultural markers of Ghana. These include the introduction of a new contract farming arrangement, cooperative society, smallholder farmers’ participation in decision-making, and the government's direct intervention.

Keywords: High Transaction Costs, Institutional Innovations, Transaction Risks, Smallholder Farmers.

References

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