Online ISSN 2286-0266
Print ISSN 1223-0685
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Cosmin MARINESCU
Academia de Studii Economice din Bucureşti
This study aims to give the general frame of scientific research on transaction costs and economic performance, in fact the institutional economics field. It is going to emphasize the necessity of rethinking the neoclassical theory through the institutional approach within development economics. As an implicit objective, the analysis is trying to outline the methodological and analytical frame useful for explaining the institutional dimension of transaction costs and their importance for institutional reforms. The recent scientific research on institutions and development proves that, by reducing transaction costs, the institutions that protect the property rights are decisive for economic development.

ŒCONOMICA no. 4/2011
Keywords: institutional economics, institutions, economic development
JEL: B15, D23, O43
Instituţii şi dezvoltare economică