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Treasury to pay the cost of institutional change

Only the amount spent the equivalent of the cost of transaction costs can be formed after the transaction, the transaction costs of uncertainty, such as D does not know the cost of the transaction costs can be transferred at a reasonable cost, the parties may choose to bear the cost of non- way to make up for market transactions costs. Economists have shown that once the use of non-market transactions approach to the allocation of resources, efficiency must be low. Thus, once the introduction of positive transaction costs, different property rights arrangements affect the efficiency of resource allocation. This conclusion is in economic circles, known as the \Sixth, reduce transaction costs discussed in front of no more than that, and if no transaction costs, treasury payment system is simply not necessary to change. Because, in terms of efficiency of resource allocation, changes before and after the change is caused by the bearer of the cost of change, and this change is just a cost shift, and then transferred through the transaction can be implemented to bear the cost of before and after changes were undertaken in costs had not changed. Simply put, the cost of the system can change the channel to free transfer of trading to institutional change does not alter the commitment of the cost of efficiency. However, transaction costs are being blocked the channel, making the cost can not be free in the channel, no friction to transfer, and thus bear the cost of changing the efficiency of the allocation of resources. In accordance with the thinking of the new institutional economics,ugg boots Günstig, transaction cost more the smaller the economic system a good system. Under the guidance of this thought, economists are some basic analysis of the economic system was standardized and made more results, particularly noteworthy is the level of Yugoslavia Covic by economists, the market economy system and the program Comparative analysis of the economic system, obtained the transaction costs of the planned economic system is far higher than the market economic system 34 20 ■ Water. 2A s conclusions, as planned economies the transition to a market economic system provides a theoretical basis. We have assumed that changes in financial and treasury payment system is efficient, so there is no need to compare before and after the system change the size of transaction costs. Change the focus should be placed on the post-transaction costs. If the changes in financial and treasury payment system is efficient, then at least the system can also be more efficient, because the system after the change of transaction costs still high, no doubt can be further reduced,goedkope uggs, thereby serving to further improve efficiency. Changes in treasury after the payment system is not able to reduce transaction costs, but rather how to reduce the problem, and how to reduce, in fact, is relatively simple. For the re-negotiation, access to information and correction system, and other expenses, and any number of economic actors able to reduce the cost of proposed programs. Some experts estimate proposed abolition of quota system, the author has proposed the building of units from another angle, the implementation of contract management, etc., are all ways to reduce transaction costs. The key problem remains that most of the mandatory System Change, \VII Conclusion I took part in the treasury payment system changes in the water conservancy system of experimental work supporting the drafting and implementation of a specific implementation of institutional change,uggs kopen, accompanied by Treasury officials examined the effect of the implementation of institutional change, thus changing the system with some knowledge. I believe that under the zero transaction cost, who will bear the cost of reform does not affect the efficiency of resource allocation, because the cost can be automatically transferred without friction optimal configuration, as the perfectly competitive free market can solve the same optimal allocation of resources. However, there are positive transaction costs, we must consider the cost of the commitment problem,timberland boots, assume the cost of different methods will produce different economic performance. Changes in the system has been the case, the most pragmatic way of thinking is not whether the evaluation system reduces transaction costs change, but after considering how to further institutional change to reduce transaction costs. ■
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