IDEAS home Printed from https://ideas.repec.org/a/srs/jarle0/v7y2016i3p672-684.html
   My bibliography  Save this article

Transaction Costs Market Failures and Economic Development

Author

Listed:
  • Tamara TODOROVA

    (Department of Economics American University in Bulgaria)

Abstract

This paper relates economic development to transaction costs It reveals the triad transaction costs market failure economic underdevelopment Many scholars attribute the problems of development to the failure of markets to perform their role of resource allocation Some deny market failure and blame government instead Of those who trace the roots of economic backwardness to market failure few if none investigate transaction costs in their linkage with market failure This paper tries to bridge development economics with transaction cost theory and new institutional analysis

Suggested Citation

  • Tamara TODOROVA, 2016. "Transaction Costs Market Failures and Economic Development," Journal of Advanced Research in Law and Economics, ASERS Publishing, vol. 7(3), pages 672-684.
    • Handle: RePEc:srs:jarle0:v:7:y:2016:i:3:p:672-684
    as

    Download full text from publisher

    To our knowledge, this item is not available for download. To find whether it is available, there are three options:
    1. Check below whether another version of this item is available online.
    2. Check on the provider's web page whether it is in fact available.
    3. Perform a search for a similarly titled item that would be available.

    Other versions of this item:

    References listed on IDEAS

    as
    1. Krueger, Anne O, 1990. "Government Failures in Development," Journal of Economic Perspectives, American Economic Association, vol. 4(3), pages 9-23, Summer.
    2. North, Douglass C, 1994. "Economic Performance through Time," American Economic Review, American Economic Association, vol. 84(3), pages 359-368, June.
    3. Datta-Chaudhuri, Mrinal, 1990. "Market Failure and Government Failure," Journal of Economic Perspectives, American Economic Association, vol. 4(3), pages 25-39, Summer.
    4. Bardhan, Pranab, 1989. "The new institutional economics and development theory: A brief critical assessment," World Development, Elsevier, vol. 17(9), pages 1389-1395, September.
    5. George A. Akerlof, 1970. "The Market for "Lemons": Quality Uncertainty and the Market Mechanism," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 84(3), pages 488-500.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Kyung-ha Kim, 2020. "The role of mobile money in improving the financial inclusion of Nairobi’s urban poor," African Journal of Science, Technology, Innovation and Development, Taylor & Francis Journals, vol. 12(7), pages 855-865, November.
    2. N. Usmanova & N. Orlova & T. Shindina & G. Vlasova & N. Knyazeva, 2018. "Intercompany Relations of Stakeholders of Investments and Projects," European Research Studies Journal, European Research Studies Journal, vol. 0(3), pages 567-578.
    3. N. Usmanova & N. Orlova & T. Shindina & G. Vlasova & N. Knyazeva, 2018. "Intercompany Relations of Stakeholders of Investments and Projects," European Research Studies Journal, European Research Studies Journal, vol. 0(3), pages 567-578.

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Anders Gustafsson & Andreas Stephan & Alice Hallman & Nils Karlsson, 2016. "The “sugar rush” from innovation subsidies: a robust political economy perspective," Empirica, Springer;Austrian Institute for Economic Research;Austrian Economic Association, vol. 43(4), pages 729-756, November.
    2. Haucap, Justus, 2017. "The rule of law and the emergence of market exchange: A new institutional economic perspective," DICE Discussion Papers 276, Heinrich Heine University Düsseldorf, Düsseldorf Institute for Competition Economics (DICE).
    3. Florin PAUN & Philippe RICHARD, 2010. "The Criticity Of The Asymmetries’ Management In The Technology Transfer Process Case Study On The Onera Sme Strategy," Working Papers 18, Réseau de Recherche sur l’Innovation. / Research Network on Innovation.
    4. Kherallah, Mylène & Kirsten, Johann, 2001. "The new institutional economics," MSSD discussion papers 41, International Food Policy Research Institute (IFPRI).
    5. Ochieng, Cosmas Milton Obote, 2007. "Development through Positive Deviance and its Implications for Economic Policy Making and Public Administration in Africa: The Case of Kenyan Agricultural Development, 1930-2005," World Development, Elsevier, vol. 35(3), pages 454-479, March.
    6. Ajeet Mathur, 2004. "Missing markets in world trade the case for 'Sui generis," Indian Council for Research on International Economic Relations, New Delhi Working Papers 141, Indian Council for Research on International Economic Relations, New Delhi, India.
    7. World Bank, 2015. "Governance Reforms of State-Owned Enterprises," World Bank Publications - Reports 22749, The World Bank Group.
    8. Serkan Degirmenci, 2011. "Do Institutions Matter for Regional Economic Growth and Development? The Case of Turkey," ERSA conference papers ersa11p1180, European Regional Science Association.
    9. Dikau, Simon & Volz, Ulrich, 2021. "Central bank mandates, sustainability objectives and the promotion of green finance," Ecological Economics, Elsevier, vol. 184(C).
    10. Sun, Yajie & Liao, Wen-Chi, 2021. "Resource-Exhausted City Transition to continue industrial development," China Economic Review, Elsevier, vol. 67(C).
    11. W. Robert Brazelton & Charles J. Whalen, 2011. "Towards a synthesis of Institutional and Post Keynsian economics," Chapters, in: Charles J. Whalen (ed.), Financial Instability and Economic Security after the Great Recession, chapter 2, pages 28-52, Edward Elgar Publishing.
    12. Hodler, Roland, 2009. "Industrial policy in an imperfect world," Journal of Development Economics, Elsevier, vol. 90(1), pages 85-93, September.
    13. Peter Evans, 2006. "Extending the 'Institutional' Turn: Property, Politics and Development Trajectories," WIDER Working Paper Series RP2006-113, World Institute for Development Economic Research (UNU-WIDER).
    14. Uwe Deichmann & Aparajita Goyal & Deepak Mishra, 2016. "Will digital technologies transform agriculture in developing countries?," Agricultural Economics, International Association of Agricultural Economists, vol. 47(S1), pages 21-33, November.
    15. M. Sarcinelli, 1996. "The Italian financial system in the mid-1990s: a difficult transition," BNL Quarterly Review, Banca Nazionale del Lavoro, vol. 49(196), pages 3-35.
    16. M. Sarcinelli, 1996. "The Italian financial system in the mid-1990s: a difficult transition," Banca Nazionale del Lavoro Quarterly Review, Banca Nazionale del Lavoro, vol. 49(196), pages 3-35.
    17. Timothy P. Roth, 2014. "Economists and the State," Books, Edward Elgar Publishing, number 15078.
    18. Tomáš Otáhal, 2009. "Problém zastoupení v nové institucionální ekonomii [The Agency Problem in New Institutional Economics]," Politická ekonomie, Prague University of Economics and Business, vol. 2009(5), pages 677-695.
    19. Serkan Degirmenci, 2011. "Do Institutions Matter for Regional Economic Growth and Development? The Case of Turkey," ERSA conference papers ersa11p1374, European Regional Science Association.
    20. Sebastian Bräuer & Florian Plenter & Benjamin Klör & Markus Monhof & Daniel Beverungen & Jörg Becker, 2020. "Transactions for trading used electric vehicle batteries: theoretical underpinning and information systems design principles," Business Research, Springer;German Academic Association for Business Research, vol. 13(1), pages 311-342, April.

    More about this item

    JEL classification:

    • D02 - Microeconomics - - General - - - Institutions: Design, Formation, Operations, and Impact
    • D23 - Microeconomics - - Production and Organizations - - - Organizational Behavior; Transaction Costs; Property Rights
    • O10 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - General
    • P14 - Political Economy and Comparative Economic Systems - - Capitalist Economies - - - Property Rights

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:srs:jarle0:v:7:y:2016:i:3:p:672-684. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Claudiu Popirlan (email available below). General contact details of provider: http://journals.aserspublishing.eu/jarle .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.