J. Kerr; R. Jindal
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SANREM CRSP, Virginia Polytechnic Institute and State University
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Introduction: This brief examines policy and institutional issues that are important for PES. It addresses various aspects of the local policy environment, institutional issues related to property rights, collective action, and issues of public sentiments and norms that may influence the feasibility of a PES approach.
Institutions refer to both the formal and informal rules and norms that govern human interaction. Examples of institutions are laws, markets, property rights, and unwritten social norms, and of course they play an important role in developing PES mechanisms, enabling them to function, and ensuring that they help or do not hurt poor people s interests.