This paper outlines the evolution of thought around and the conceptual underpinning of the Making Market Systems Work Better for the Poor (M4P) framework. M4P focuses on changing the structure and characteristics of markets to increase participation by the poor on terms that are of benefit to them. The framework builds on approaches to providing goods and services for the poor through market systems, and summarises much of the contemporary thinking on how to provide assistance to the private sector. This paper outlines why M4P matters. It elaborates on the M4P concept, the conceptual roots of the framework and extensions of the framework to better understand the main elements of a functioning market. The paper then describes the practical application of the M4P framework both as an analytical tool and as a tool for intervention.
Useful for:
Professionals seeking to better understand the conceptual underpinnings and evolution of market systems approaches, in particular academics and those focusing of M4P.