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Measuring Transaction Costs Using Survey Data on Sales Agreements

Peter Murrell and Radu Paun

Electronic Working Papers from University of Maryland, Department of Economics

Abstract: A methodology is presented for transaction-cost measurement using reports from businesses. In Romania, transaction costs related to buying and selling are more than 20% of value added. The estimates correlate significantly with variables suggested by theory, indicating validity.

Keywords: transaction costs; measurement; new institutional economics; Romania (search for similar items in EconPapers)
JEL-codes: C81 D23 L14 P2 (search for similar items in EconPapers)
Pages: 11 pages
Date: 2010-02
New Economics Papers: this item is included in nep-tra
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Persistent link: https://EconPapers.repec.org/RePEc:umd:umdeco:10-001

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Department of Economics, University of Maryland, Tydings Hall, College Park, MD 20742

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