Трансакционни разходи и икономически растеж

Transaction Costs and Economic Growth

Teodor Sedlarski

MPRA Paper from University Library of Munich, Germany

Abstract: This article explores the theoretical relationship between economic growth and transaction costs, including the historical background of the discussion. Causes and implications of the rapid enlargement of the Bulgarian transaction sector in the transition period are discussed in respect to Douglas North’s institutional theory of economic development. An answer to the central question in North’s approach whether increasing total transaction costs inhibit economic growth as well as possible ways to econometrically prove the theoretical conclusions are looked for in the literature. The general inappropriateness of Wallis & North’s measuring concept for the investigation of the likely relationship between transaction costs and economic growth is inferred.

Keywords: Transaction costs; economic growth; transition (search for similar items in EconPapers)
JEL-codes: B52 O43 (search for similar items in EconPapers)
Date: 2007-10
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Persistent link: https://EconPapers.repec.org/RePEc:pra:mprapa:52426

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