Economic development is a complex phenomenon, at least when speaking about understanding its real sources, despite the simplifying tendencies of economic growth neoclassical theories. These orthodox theories limit themselves to identifying the necessary conditions - such as capital accumulation...

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...

The institutional arrangements, such as the property private order, market, law and other social institutions, governance, cannot function without certain costs. Such costs are not generally or necessarily measurable, but their identification helps understanding how the economic activity is...

According to the orthodox theory of international trade, the argument of selective industrial policy means the state capability of identifying competitive advantages and to exploit them. In this approach, I want to emphasize the necessity of a critical reconsideration of the “competitive...

Recent evolutions in Europe raise questions on the viability of the actual economic and social model that defines the European construction project. In this paper, I will try to explain the viability of institutional European model that stick between free market mechanisms and protectionism. The...

This paper intends to draw the attention on the very subtle consequences of the corruption in the operational field, the deviation from the institutional arrangement in use. We will not insist for example on the subject according to which “the public domain”, as expression of the “joint...

Lectia fundamentala a argumentului calculului economic arata ca unde calcul economic nu e, economie nu e. Acolo unde lipseste calculul economic, lipseste si activitatea economica „rationala”, adica alocarea resurselor conform principiului rationalitatii. Argumentul calculului economic...

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....