The Structural Market Shift Review of Lesotho: Transitory Situational Analytic Market Policy Introspection for Sustainable Development

Abstract

This paper analyzes Lesotho’s agricultural market in both state-regulated and liberalized policy. It identifies institutional constraints inhibiting efficient marketing in both policy systems. Realization of such constraints constitutes an analytic illumination on the formulation of strategies for poverty alleviation and sustainable development through agricultural marketing as the main sector with 86% of Lesotho’s poor subsistence producers. This desk-study comprehends the state and the market as imperfect institutions in sustainable development and alleviating poverty by unearthing constraints to pre and post agricultural market reforms in Lesotho. It thus examines Lesotho’s agricultural market transitory situational analysis and organization, providing empowering lessons in poverty reduction and sustainable development at grassroots level. Forms of state intervention before market reform, market reform process and progress and the institutional constraints and implications in poverty reduction and sustainable development are covered to attain critical lessons as cognitive knowledge applicable in empowering the poor in crops production, food security and sustainable development. State and the market and their active interaction have globally been believed to be institutional agencies with the main role of distributing resources towards poverty reduction and sustainable development but their imperfections and constraints hampering effectiveness and efficiency of such a role still lack adequate contextual review to effectively increase productivity and enrich lives of the poor agricultural producers, particularly in Lesotho.