Adverse Effects of Transaction Costs in East European Economies
Abstract. At a given level of technology the gross aggregate production function lies above the net aggregate production function where the difference represents the aggregate transaction costs in the economy. Transitional economies facing serious institutional impediments to creating a smoothly fu...
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| Format: | Article |
| Language: | English |
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Vilnius University Press
2011-05-01
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| Series: | Organizations and Markets in Emerging Economies |
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| Online Access: | https://www.journals.vu.lt/omee/article/view/14288 |