Which mechanisms support the fulfillment of sales agreements? Asking decision-makers in firm
The paper proposes a methodology to obtain evidence on the relative importance of different mechanisms for supporting agreements. A survey question posed to company directors summarizes key aspects of mechanisms and asks for judgments on use. In contrast to existing approaches, the data covers the full complement of mechanisms and much economic activity, offering aggregate numerical judgments. The methodology is applied in Romania. Popular hypotheses are examined. Bilateralism is numerically dominant; the legal system is used extensively; third-party mechanisms are less important. These three mechanisms are non-complementary.
|Date of creation:||Mar 2003|
|Date of revision:|
|Contact details of provider:|| Postal: Department of Economics, University of Maryland, Tydings Hall, College Park, MD 20742|
Web page: http://www.econ.umd.edu/
|Order Information:|| Postal: Ms. Elizabeth Martinez, Department of Economics, University of Maryland, Tydings Hall, College Park, MD 20742|
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NBER Working Papers
8572, National Bureau of Economic Research, Inc.
- Fafchamps, Marcel, 1996. "The enforcement of commercial contracts in Ghana," World Development, Elsevier, vol. 24(3), pages 427-448, March.
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