Measuring Transaction Costs Using Survey Data on Sales Agreements
11 Pages Posted: 1 Feb 2010
Date Written: February 1, 2010
A methodology is presented for transaction-cost measurement using reports from businesses. In Romania, transaction costs related to buying and selling are more than 20% of value added. The estimates correlate significantly with variables suggested by theory, indicating validity.
Keywords: transaction costs, measurement, new institutional economics, Romania
JEL Classification: L14, D23, C81, P2
Suggested Citation: Suggested Citation