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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Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Ivo Bischoff & Armin Bohnet, 2000. "Gesamtwirtschaftliche Transaktionskosten und wirtschaftliches Wachstum," Journal of Economics and Statistics (Jahrbuecher fuer Nationaloekonomie und Statistik), Justus-Liebig University Giessen, Department of Statistics and Economics, vol. 220(4), pages 419-437.
- Solow, Robert M, 1988.
"Growth Theory and After,"
American Economic Review,
American Economic Association, vol. 78(3), pages 307-17, June.
- 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.
- 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.
- North, Douglass C, 1994.
"Economic Performance through Time,"
American Economic Review,
American Economic Association, vol. 84(3), pages 359-68, June.
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