How do Intermediaries Build Inclusive Markets? The Role of the Social Context

Abstract Intermediaries – organizations that connect actors who could not otherwise transact – play an important role in building inclusive markets. However, we know little about how the specific characteristics of the social context influence the effectiveness of intermediary activities. The purpose of this study is to unpack how the fit between intermediaries’ activities and the social context shapes the success of efforts to build inclusive markets. Using an in‐depth qualitative study in India, we examine how intermediaries’ activities fit with two central features of the social context – inequality and dependence. Our study contributes to the literature by suggesting a contingent view of the process by which intermediaries build inclusive markets.