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Gesamtwirtschaftliche Transaktionskosten und wirtschaftliches Wachstum / Social Transaction Costs and Economic Growth

Author

Listed:
  • Bischoff Ivo
  • Bohnet Armin

    (Justus-Liebig-Universität Gießen, Lehrstuhl für Volkswirtschaftslehre IV, Licher Straße 66, D-35394 Gießen)

Abstract

Transaction costs have become a major topic of research in the last decades. However, there is still a great shortage of empirical approaches to their effects on the economic performance. A short review of these empirical studies indicates that the impact of transaction costs on economic growth is a controversially discussed topic. Based on the method proposed by Reichhardt (1995), the volume of transaction activities in West Germany between 1982 and 1993 is estimated. The analyses show that their relative weight has continuously risen. This development is caused by a growing importance of transaction activities in all branches as well as a relatively faster growth of those branches where the share of transaction activities is especially high. Simultaneously, the productivity of transaction as well as transformation activities has increased steadily. A significant difference between the growth rates in productivity was not found. Hence there is no evidence that the observed increase in transaction activities is a limiting factor for economic growth.

Suggested Citation

  • Bischoff Ivo & Bohnet Armin, 2000. "Gesamtwirtschaftliche Transaktionskosten und wirtschaftliches Wachstum / Social Transaction Costs and Economic Growth," Journal of Economics and Statistics (Jahrbuecher fuer Nationaloekonomie und Statistik), De Gruyter, vol. 220(4), pages 419-437, August.
    • Handle: RePEc:jns:jbstat:v:220:y:2000:i:4:p:419-437
    DOI: 10.1515/jbnst-2000-0404
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    References listed on IDEAS

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    1. Pryor, Frederic L., 1994. "Growth deceleration and transaction costs: A note," Journal of Economic Behavior & Organization, Elsevier, vol. 25(1), pages 121-133, September.
    2. Shelanski, Howard A & Klein, Peter G, 1995. "Empirical Research in Transaction Cost Economics: A Review and Assessment," The Journal of Law, Economics, and Organization, Oxford University Press, vol. 11(2), pages 335-361, October.
    3. R. H. Coase, 2013. "The Problem of Social Cost," Journal of Law and Economics, University of Chicago Press, vol. 56(4), pages 837-877.
    4. Bohnet Armin & Reichhardt Michael, 1993. "Der Beitrag der Transaktionskostenökonomik zu einer Theorie der Transformation von Wirtschaftsordnungen/The Contribution of Transaction Cost Economics to a Theory of Economic Transformation," Journal of Economics and Statistics (Jahrbuecher fuer Nationaloekonomie und Statistik), De Gruyter, vol. 212(3-4), pages 204-226, May.
    5. King, Ronald R., 1994. "An experimental investigation of transaction costs," Journal of Economic Behavior & Organization, Elsevier, vol. 25(3), pages 391-409, December.
    6. Harold Demsetz, 1968. "The Cost of Transacting," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 82(1), pages 33-53.
    7. Fuess, Scott Jr. & Van den Berg, Hendrik, 1996. "Transactional activities and total factor productivity growth in Taiwan," Journal of Asian Economics, Elsevier, vol. 7(4), pages 635-650.
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    Cited by:

    1. Sedlarski, Teodor, 2007. "Трансакционни Разходи И Икономически Растеж [Transaction Costs and Economic Growth]," MPRA Paper 52426, University Library of Munich, Germany.
    2. Chobanov, George & Egbert, Henrik & Sedlarski, Teodor, 2007. "Методи За Статистическо Извличане На Данни За Транзакционните Операции На Микро Ниво [Methods for Data Collection on Transaction Tasks: A Micro-level Analysis]," MPRA Paper 56744, University Library of Munich, Germany.

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