Understanding the Transaction Costs of Transition: it's the Culture,Stupid |
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Authors: | Pejovich Svetozar |
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Affiliation: | (1) Department of Economics, Texas A&M University, USA |
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Abstract: | The process of transition in Central and Eastern Europe from socialism to capitalism is a cultural issue rather than a mere technical one. To support this proposition, economic analysis must explain why and how informal rules affect the results of transition. |
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Keywords: | transition economies Central and Eastern Europe culture transaction costs |
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