Title: On transaction cost theory and regulationg object of economic law
Abstract: Transaction cost in market brings about market failure, this objectively requests government intervention in markets. Because the defect of government itself also result in transaction cost, ever higher than it that caused by market failure, and obstruct transaction and cause government failure. Based on the former work, the author concludes that the regulating object of economic law is to regulate market and normalize the intervention of governments in the market field.
Publication Year: 2001
Publication Date: 2001-01-01
Language: en
Type: article
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