The main objective of the present approach is, first of all, to analyse the "transaction costs" concept and then to prove scientifically the relation transaction costs – institutions.

Last decades have been the most turbulent in international monetary history in terms of the number, extent and severity of the economic and financial crises. There were more speculative bubbles in the period 1980-2000 than in any previous period, and Japan and Latin American countries...

The history of the modern world means the history of the capitalist world. Since the beginning of his civilization, the human has based his economical becoming on money, on capital, on accumulation. When we speak of the past of the capitalism, we speak about different periods of time having...