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Understanding the Transaction Costs of Transition: it's the Culture, Stupid

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Abstract

The process of transition in Central and Eastern Europe from socialism to capitalism is a cultural issue rather than a mere technical one. To support this proposition, economic analysis must explain why and how informal rules affect the results of transition.

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  1. Department of Economics, Texas A&M University, USA

    Svetozar (Steve) Pejovich

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  1. Svetozar (Steve) Pejovich
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Pejovich, S.(. Understanding the Transaction Costs of Transition: it's the Culture, Stupid. The Review of Austrian Economics 16, 347–361 (2003). https://doi.org/10.1023/A:1027397122301

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