Name: Krishna Sahani, Riya Ajmera, Abhay Kumar
Country: India

Year: 2023
Volume: Volume-10, Issue-1 (January-June)
Page Number: 65-77

This study provides a theoretical examination of institutional voids and their implications for agribusiness development in emerging economies. Institutional voids, characterized by weak regulatory systems, limited market intermediaries, and inadequate infrastructure, significantly influence the functioning of agricultural markets and value chains. Drawing on existing literature, the paper synthesizes key perspectives to understand how these institutional deficiencies shape agribusiness strategies, innovation, and market participation. The findings suggest that while institutional voids create barriers such as increased transaction costs, financial exclusion, and inefficiencies in value chain integration, they also stimulate adaptive responses, including the emergence of informal institutions, cooperative structures, and
innovative business models. The study further highlights the role of governance, policy
interventions, and digital technologies in mitigating institutional gaps and promoting
sustainable agribusiness development. Additionally, it emphasizes the importance of
inclusivity, particularly in addressing challenges faced by smallholder farmers and
marginalized groups. Overall, the paper contributes to the theoretical discourse by presenting an integrated understanding of institutional voids as both constraints and opportunities and underscores the need for context-specific and multi-dimensional approaches to strengthen agribusiness ecosystems in emerging economies.