Abstract
The analysis of natural resource management (NRM) institutions is drawn from two predominant theoretical schools – New Institutional Economics (NIE) and Common Property Resource (CPR) theory. There remains a need to transfer usable messages from the theory to those closely engaged with NRM in the development context. The paper brings together the recent theoretical reappraisal of the ‘institution’ in NRM with research findings from Bangladesh to argue the importance of re-emphasizing a simple distinction between formal and informal institutions. Acknowledging the importance of the informal institutional environment is crucial for improved management and evaluation of NRM initiatives.
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