Transaction costs of the national economy: essence, classification and evaluation

Grytsaenko, M.

Grytsaenko, M. (2017). Transaktsiini vytraty natsionalnoi ekonomiky: sutnist, klasyfikatsiia ta otsinka [Transaction costs of the national economy: essence, classification and evaluation]. Socio-Economic Problems and the State. 17 (2), 41-55. http://sepd.tntu.edu.ua/images/stories/pdf/2017/17hmikto.pdf.

1-dec-2017

sep-2017

Ternopil Ivan Puluj National Technical University

338.58

E02
O11

gross domestic product
transaction costs
social capital
transactional sector of economy
institutional environment

The article defines the essence of transaction costs, considers their classification and evaluates them at the macroeconomic level. The importance of the institutional environment in the formation of social capital is emphasized, and the relationship between social capital and transaction costs is shown. Various interpretations of the concept of "transaction costs" are generalized. The author's definition of transaction costs as those that increase the price of goods without changing its consumer value, and arise from the interaction of enterprises with other subjects of institutional environment, is stated. The existing approaches to their classification have been considered aimed at their further use in the development of methods of transaction costs assessment. The evaluation of transactional costs of the national economy by estimating its transactional sector has been proposed. The dynamics of the size of the transactional sector, its influence on gross domestic product (GDP) has been analyzed. On the basis of the found inverse proportion between the size of GDP and the shares of the transactional sector in its structure, we came to the conclusion that a deep economic crisis and some destructive changes in the economy are taking place.

Supplementary data associated with this article can be found, in the online version, at

http://sepd.tntu.edu.ua/images/stories/pdf/2017/17hmikto.pdf

http://elartu.tntu.edu.ua/handle/lib/22730

2223-3822

Scientific Journal "Socio-Economic Problems and the State", 2017

http://sepd.tntu.edu.ua/images/stories/pdf/2017/17hmikto.pdf

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Scientific Journal "Socio-Economic Problems and the State", Vol.17, No.2