Трансакционни Разходи И Икономически Растеж
[Transaction Costs and Economic Growth]
This article explores the theoretical relationship between economic growth and transaction costs, including the historical background of the discussion. Causes and implications of the rapid enlargement of the Bulgarian transaction sector in the transition period are discussed in respect to Douglas North’s institutional theory of economic development. An answer to the central question in North’s approach whether increasing total transaction costs inhibit economic growth as well as possible ways to econometrically prove the theoretical conclusions are looked for in the literature. The general inappropriateness of Wallis & North’s measuring concept for the investigation of the likely relationship between transaction costs and economic growth is inferred.
|Date of creation:||Oct 2007|
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- George J. Stigler, 1951. "The Division of Labor is Limited by the Extent of the Market," Journal of Political Economy, University of Chicago Press, vol. 59, pages 185.
- 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.
- Solow, Robert M, 1988.
"Growth Theory and After,"
American Economic Review,
American Economic Association, vol. 78(3), pages 307-17, June.
- North, Douglass C., 1993.
"Economic Performance through Time,"
Nobel Prize in Economics documents
1993-2, Nobel Prize Committee.
- Wallis, John Joseph & North, Douglass C., 1988. "Should Transaction Costs be Subtracted from Gross National Product?," The Journal of Economic History, Cambridge University Press, vol. 48(03), pages 651-654, September.
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