In contemporary economic literature, we can find plenty of theoretical and empirical approaches which seek to highlight the most appropriate factorial variables that are associated with the institutional quality of the business environment. This study presents, in a summarised version, the...

This paper intends to draw the attention on the very subtle consequences of the corruption in the operational field, the deviation from the institutional arrangement in use. We will not insist for example on the subject according to which “the public domain”, as expression of the “joint...

This study aims to give the general frame of scientific research on transaction costs and economic performance, in fact the institutional economics field. It is going to emphasize the necessity of rethinking the neoclassical theory through the institutional approach within development economics....

The study illustrates the fundamental theoretical research on the issue of transaction costs, as reflected in the institutional analysis entitled „Transaction Costs Economics”. In order to obtain the empirical operationalization of transaction costs and, so, the valuation of their...

Lectia fundamentala a argumentului calculului economic arata ca unde calcul economic nu e, economie nu e. Acolo unde lipseste calculul economic, lipseste si activitatea economica „rationala”, adica alocarea resurselor conform principiului rationalitatii. Argumentul calculului economic...

The study illustrates the fundamental theoretical research on the issue of transaction costs, as reflected in the institutional analysis entitled „Transaction Costs Economics”. In order to obtain the empirical operationalization of transaction costs and, so, the valuation of their...

The institutional arrangements, such as the property private order, market, law and other social institutions, governance, cannot function without certain costs. Such costs are not generally or necessarily measurable, but their identification helps understanding how the economic activity is...