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....

The study illustrates the fundamental theoretical research on the issue of transaction costs, as reflected in the institutional analysis entitled „Transaction Costs Economics”. In order to obtain the empirical operationalization of transaction costs and, so, the valuation of their...