ON THE ISSUE OF MEASURING ADDITIONAL TRANSACTION COSTS IN RUSSIA
Vyacheslav S. Kosachev, Lyudmila K. Serga
Russian Presidential Academy of National Economy and Public Administration, Siberian Institute of Management, Novosibirsk, Russian Federation
Keywords: transaction costs, institutional sectors, uncertainty, methods of measuring transaction costs, economic institutions
Abstract
This article examines and summarizes the academic discourse on defining the essence of transaction costs and methods for measuring them. Based on the findings of the study, a new methodology for measuring additional transaction costs arising from changes in the economic environment is proposed. An analysis of the dynamics and level of transaction costs in the Russian economy reveals the specifics of economic agents’ adaptation to uncertainty. The results of the study can be used for planning and implementing measures to improve economic institutions.
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