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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 and North’s measuring concept for the investigation of the likely relationship between transaction costs and economic growth is inferred.

Item Type: MPRA Paper -

Original Title: Трансакционни разходи и икономически растеж-

English Title: Transaction Costs and Economic Growth-

Language: Bulgarian-

Keywords: Transaction costs, economic growth, transition-

Subjects: B - History of Economic Thought, Methodology, and Heterodox Approaches > B5 - Current Heterodox Approaches > B52 - Institutional ; EvolutionaryO - Economic Development, Innovation, Technological Change, and Growth > O4 - Economic Growth and Aggregate Productivity > O43 - Institutions and Growth-

Author: Sedlarski, Teodor

Source: https://mpra.ub.uni-muenchen.de/52426/

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