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Managing Transaction Costs in the Era of Globalization

Frank A.G. den Butter, VU University Amsterdam, The Netherlands
Frank A.G. den Butter explains the importance and means of keeping transaction costs as low as possible. He illustrates how this transaction management can contribute to making firms and nations more competitive by exploiting gains from the division of labour and international fragmentation of production, and uses relevant case studies to illustrate how value is created by reducing transaction costs. Policy recommendations for strengthening the competitive position of trading nations and reducing implementation costs of government policy are presented, and management methods for creating value in organizing production on a global scale are prescribed.
Extent: 296 pp
Hardback Price: $136.00 Web: $122.40
Publication Date: 2012
ISBN: 978 1 78100 130 1
Availability: In Stock
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  • Economics and Finance
  • Institutional Economics
  • International Economics
This timely book presents practical applications of modern economic theories to trade, transaction costs and institutions within both business and governmental realms.

Frank A.G. den Butter explains the importance and means of keeping transaction costs as low as possible. He illustrates how this transaction management can contribute to making firms and nations more competitive by exploiting gains from the division of labour and international fragmentation of production, and uses relevant case studies to illustrate how value is created by reducing transaction costs. Policy recommendations for strengthening the competitive position of trading nations and reducing implementation costs of government policy are presented, and management methods for creating value in organizing production on a global scale are prescribed.

A wide-ranging audience encompassing economists in academia, government and business; managers in industry and government; and students of economics, business and globalization will find this book to be a crucial reference tool.
Contents: Preface 1. Introduction 2. Specialization and Coordination 3. Empirics of the Hub Function of Transaction Economies 4. Transaction Cost Economics 5. The Transition from Production to Orchestration 6. Transaction Costs as Determinants of Trade Flows 7. Standards 8. Innovation through Transaction Management 9. Government Intervention and Transaction Management 10. Transaction Management and the Implementation of Government Policy 11. Conclusion References Index