Building Inclusive Markets in Rural Bangladesh: How Intermediaries Work Institutional Voids

Mair, Johanna, Marti, Ignasi and Ventresca, Marc (2012) Building Inclusive Markets in Rural Bangladesh: How Intermediaries Work Institutional Voids. Academy of Management Journal, 55 (4). pp. 819-850.

Abstract

Much effort goes into building markets as a tool for economic and social development, often overlooking that in too many places social exclusion and poverty prevent many, especially women, from participating in and accessing markets. Building on data from rural Bangladesh and analyzing the work of a prominent intermediary organization, we uncover institutional voids as the source of market exclusion and identify two sets of activities – redefining market architecture and legitimating new actors – as critical for building ‘inclusive’ markets. We expose voids as ‘analytical spaces’ and illustrate how they result from conflict and contradiction among institutional ‘bits and pieces’ from local political, community, and religious spheres. Our findings put forward a perspective on market building that highlights the ‘on the ground’ dynamics and attends to the ‘institutions at play’, to their consequences, and to a more diverse set of ‘inhabitants’ of institutions.

Item Type: Article
Keywords: Institutional voids; market building; institutional plurality; inclusive markets; indigenous institutions; informal economy; markets at the base of the pyramid (BOP); inhabited institutions
Subject(s): Strategy; Entrepreneurship & Global business
Centre: Faculty of Strategy, Entrepreneurship and International Business
Date Deposited: 04 Jul 2012 14:29
Last Modified: 23 Oct 2015 14:07
URI: http://eureka.sbs.ox.ac.uk/id/eprint/3769

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