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INSTITUTIONS, TRANSACTION COSTS AND ECONOMIC GROWTH
Author(s) -
NORTH DOUGLASS C.
Publication year - 1987
Publication title -
economic inquiry
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.823
H-Index - 72
eISSN - 1465-7295
pISSN - 0095-2583
DOI - 10.1111/j.1465-7295.1987.tb00750.x
Subject(s) - transaction cost , economics , context (archaeology) , politics , database transaction , institutional economics , economic expansion , economic system , neoclassical economics , public economics , microeconomics , macroeconomics , political science , law , paleontology , programming language , computer science , biology
This essay develops a theoretical framework which explores the historical obstacles to economic growth. These obstacles are examined in the context of the political/economic institutional framework of economies in history and consequent transaction costs that determine economic performance and growth. The essay concludes with specific suggestions for the study of economic growth.