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Understanding the Transaction Costs of Transition: it's the Culture, Stupid

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  • Svetozar Pejovich

Abstract

The process of transition in Central and Eastern Europe from socialism to capitalism is a cultural issue rather than a mere technical one. To support this proposition, economic analysis must explain why and how informal rules affect the results of transition. Copyright Kluwer Academic Publishers 2003

Suggested Citation

  • Svetozar Pejovich, 2003. "Understanding the Transaction Costs of Transition: it's the Culture, Stupid," The Review of Austrian Economics, Springer;Society for the Development of Austrian Economics, vol. 16(4), pages 347-361, December.
    • Handle: RePEc:kap:revaec:v:16:y:2003:i:4:p:347-361
    DOI: 10.1023/A:1027397122301
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    References listed on IDEAS

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    1. Simeon Djankov & Rafael La Porta & Florencio Lopez-de-Silanes & Andrei Shleifer, 2002. "The Regulation of Entry," The Quarterly Journal of Economics, Oxford University Press, vol. 117(1), pages 1-37.
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    3. de Haan, Jakob & Sturm, Jan-Egbert, 2000. "On the relationship between economic freedom and economic growth," European Journal of Political Economy, Elsevier, vol. 16(2), pages 215-241, June.
    4. Torstensson, Johan, 1994. "Property Rights and Economic Growth: An Empirical Study," Kyklos, Wiley Blackwell, vol. 47(2), pages 231-247.
    5. James M. Buchanan, 1993. "Property as a Guarantor of Liberty," Chapters, in: Charles K. Rowley (ed.), Property Rights and the Limits of Democracy, chapter 1, pages i-64, Edward Elgar Publishing.
    6. John J. Wallis & Douglass North, 1986. "Measuring the Transaction Sector in the American Economy, 1870-1970," NBER Chapters, in: Long-Term Factors in American Economic Growth, pages 95-162, National Bureau of Economic Research, Inc.
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