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, successful activity can be achieved when those different participants categories act like a system, into a supply chain. On tour …-operators’ level, the supply chain management incorporates, among the others, planning and management activities concerning purchasing … distribution, the supply chain being structured by cooperation between a various number of participants, from raw materials …
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The study defines the three types of convergence – institutional, nominal and real ones –, the connection among them and their main measurement indicators. 
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The main objective of the present approach is, first of all, to analyse the "transaction costs" concept and then to prove scientifically the relation transaction costs – institutions.
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This paper focuses on the role of institutions in enhancing economic growth. Attention to the institutional environment has become increasingly common in economic history and it has deeply enriched our understanding of how economies develop through time. Economic development is no longer...
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