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Ustinova N. G. The Specifics of the Transaction Costs in Line with the Formation of the Innovation Economy. Izv. Saratov Univ. (N. S.), Ser. Economics. Management. Law, 2018, vol. 18, iss. 1, pp. 41-?. DOI: https://doi.org/10.18500/1994-2540-2018-18-1-41-46


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The Specifics of the Transaction Costs in Line with the Formation of the Innovation Economy

Introduction. In the heart of the analysis of this article are problems of innovation economy that most clearly characterizes the existence of transaction costs. Over time, the structure of the transaction costs has evolved: in the information economy occupy a significant proportion of the costs of searching for information and costs of measurement in the knowledge economy is gradually gaining weight the costs of negotiating and concluding contracts. With the last quarter of the twentieth century, a particularly important place in the system of transaction costs took the cost of specification and the protection of property rights, as well as the cost of training and retraining of personnel, satisfying the needs of innovation. Theoretical analysis. Of the total transaction cost economic agents depends on their competitiveness in domestic and international markets, because lower costs enable innovative enterprises to carry out their activities efficiently, constantly modifying the escaping product. This gives the opportunity to occupy a privileged position compared with other companies who are forced to spend a large part of their profits not on improving technologies and to cover transaction costs. Therefore, it is important to not only the theoretical substantiation of the need to address the issue of transaction costs, but also offer practical ways to track the dynamics of this kind costs to reduce them. Results. Reviewed by transaction costs accompanying the interaction of economic actors in the transition of the Russian economy on an innovative path, as well as factors which complicates the measurement of transaction costs. Identified obstacles to the emergence of an innovative economy in our country. Proposed a series of measures to effectively reduce the transaction costs.

References: 

1. Ustinova N. G. Transactional costs under transformation of the institutional environment. Novyi universitet. Ser. Ekonomika i pravo [The New University. Ser. Economics and Law], 2012, no. 5, pp. 10–13 (in Russian). 

2. Gorlanov G. V., Dehanova N. G. Situational and innovative dynamics of the entrepreneurial function. Aktual’nye voprosy innovatsionnoi ekonomiki [Central Problems of Innovation Economics], 2013, no. 5, pp. 5–23 (in Russian). 

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