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Transaction Costs and Institutional Change of Trade Litigations in Bulgaria

Author

Listed:
  • Shteryo Nozharov

    () (University of National and World Economy, Sofia, Bulgaria)

  • Petya Koralova – Nozharova

    () (Todor Kableshkov Higher School of Transport, Sofia, Bulgaria)

Abstract

The methods of new institutional economics for identifying transaction costs of trade litigations in Bulgaria are used in the current paper. The main purpose of the model is to be forecasted the rational behaviour of trade litigation parties in accordance with the transaction costs in the process of enforced execution of the signed commercial contract. The implementation of the model is related to the more accurate measurement of transaction costs on microeconomic level.

Suggested Citation

  • Shteryo Nozharov & Petya Koralova – Nozharova, 2018. "Transaction Costs and Institutional Change of Trade Litigations in Bulgaria," Nauchni trudove, University of National and World Economy, Sofia, Bulgaria, issue 3, pages 123-133, July.
  • Handle: RePEc:nwe:natrud:y:2018:i:3:p:123-133
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    File URL: http://unwe-research-papers.org/bg/journalissues/article/9989
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    References listed on IDEAS

    as
    1. Dahlman, Carl J, 1979. "The Problem of Externality," Journal of Law and Economics, University of Chicago Press, vol. 22(1), pages 141-162, April.
    2. George Chobanov & Henrik Egbert, 2007. "The Rise of the Transaction Sector in the Bulgarian Economy," Comparative Economic Studies, Palgrave Macmillan;Association for Comparative Economic Studies, vol. 49(4), pages 683-698, December.
    3. Kessler, Daniel P. & Rubinfeld, Daniel L., 2007. "Empirical Study of the Civil Justice System," Handbook of Law and Economics, Elsevier.
    Full references (including those not matched with items on IDEAS)

    More about this item

    Keywords

    transaction costs; new institutional economics; reform of the judicial system; trade litigations; shadow economy;

    JEL classification:

    • O43 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - Institutions and Growth
    • P48 - Economic Systems - - Other Economic Systems - - - Political Economy; Legal Institutions; Property Rights; Natural Resources; Energy; Environment; Regional Studies
    • D23 - Microeconomics - - Production and Organizations - - - Organizational Behavior; Transaction Costs; Property Rights
    • K12 - Law and Economics - - Basic Areas of Law - - - Contract Law

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