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11 - Market Making in Punjab Lotteries: Regulation and Mutual Dependence

Published online by Cambridge University Press:  24 September 2020

By
Matthew S. Hull
Edited by
Ajay Gandhi ,
Barbara Harriss-White ,
Douglas E. Haynes  and
Sebastian Schwecke
Ajay Gandhi
Affiliation:
Universiteit Leiden
Barbara Harriss-White
Affiliation:
University of Oxford
Douglas E. Haynes
Affiliation:
Dartmouth College, New Hampshire
Sebastian Schwecke
Affiliation:
Indian Institute of Management, Calcutta
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Summary

This chapter focuses on lotteries in the Indian state of Punjab to examine how regulation can shape markets in India. The legal market for lotteries in Punjab is subject to the varying regulatory practices of several Indian states, the central government, a consortium of lottery corporations, and police. The increasing regulation of the lottery market in India since the late 1960s is not a straightforward modernization story of the incorporation of unregulated economic activities into regulated arrangements. In Punjab, efforts to increase the regulation of lotteries fostered the growth of new, less regulated activities, including outright illegal ones. The market for lotteries in Punjab shows how regulation can significantly format even activities that escape one or another component of its regulatory apparatus. The chapter argues that some markets are more insightfully analyzed in terms of degrees of regulation rather than the conceptual binaries of formal/informal or legal/illegal.

Keywords

marketsstateregulationtaxationtransparencylotteriesgamblingIndiaPunjab
Type
Chapter
Information
Rethinking Markets in Modern India
Embedded Exchange and Contested Jurisdiction
 , pp. 294 - 321
Publisher: Cambridge University Press
Print publication year: 2020

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