2016
DOI: 10.1590/0101-31572016v36n02a05
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Why transaction costs are so relevant in political governance? a new institutional survey

Abstract: The New Institutional Economics, led by four Nobel laureates (Ronald Coase, Douglass North, Oliver Williamson and Elinor Ostrom), has showed that institutions and organizations are a medium for reducing transaction costs and obtaining a higher efficiency in economic performance. This paper goes into the research program of the New Institutional Economics to explain the relevance of transaction costs in political exchange and organization and show that transactions costs are even higher in political markets tha… Show more

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Cited by 20 publications
(5 citation statements)
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References 58 publications
(80 reference statements)
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“…Intergovernmental CG is even more challenging in LMICs as a result of weak social and political systems, hierarchical leadership and entrenched political patronage and corruption, 10 87 and high transaction costs of collaboration. [88][89][90][91] In northern Ghana, there have been attempts for adaptive CG for climate change management, but these have been constrained by mistrust and diverse interests. 89 These challenges partly contribute to the lack of incentives to work across jurisdictional boundaries.…”
Section: Discussionmentioning
confidence: 99%
“…Intergovernmental CG is even more challenging in LMICs as a result of weak social and political systems, hierarchical leadership and entrenched political patronage and corruption, 10 87 and high transaction costs of collaboration. [88][89][90][91] In northern Ghana, there have been attempts for adaptive CG for climate change management, but these have been constrained by mistrust and diverse interests. 89 These challenges partly contribute to the lack of incentives to work across jurisdictional boundaries.…”
Section: Discussionmentioning
confidence: 99%
“…Public administration has undergone transformations into many models, as suggested by [22]. According to [22], there are five familiar models of public administration in the eyes of researchers Regarding institutional models, stated that this model emphasizes social justice to ensure public rights can function properly, through the enforcement of formal and informal values as its instruments [6] [8]. The enforcement of social justice through these formal and informal values, according to [23], is part of the functioning of networks in the public realm.…”
Section: Literature Review: Institu-tionalization In the Public Sectormentioning
confidence: 99%
“…The construction of reality is influenced by the values, norms, and policies within the organization. [22] [35] argues that every organization has a unique construction of reality, which reflects their perspective and understanding of the social reality they face. This construction of reality plays an important role, at least as researchers see in Payangan, in shaping the behavior and policies adopted by organizations in interacting with their surrounding environment.…”
Section: Conceptual Model Of the Systems Named In The Root Definitionmentioning
confidence: 99%
“…The NPS paradigm emphasizes the importance of the involvement of many actors in the administration of public affairs, and public interests must be formulated and implemented by all actors, including the state, business and civil society. This concept is also known as the governance paradigm, where partnerships and networks between various stakeholders are considered important in the administration of public affairs (Caballero & Soto-Oñate, 2016) .…”
mentioning
confidence: 99%