transaction costs

transaction costs are the costs associated with the transaction of property.

December 2010

Los últimos episodios de volatilidad extrema de los precios en los mercados agrícolas mundiales presagian mayores y más frecuentes amenazas a la seguridad alimentaria mundial. Para reducir la vulnerabilidad de los países, las políticas deberían equiparlos para que puedan hacer frente a los efectos adversos de una volatilidad extrema, y mejorar el funcionamiento del mercado.

August 2013

The Review suggests the outlines of an
architecture for microfinance in Fiji in which the National
Centre for Small and Micro-Enterprise Development (NCSMED),
as envisioned by the Government of Fiji, is the primary
source of funding and technical assistance for microfinance
institutions. But to assure a sound financial sector
building approach to policy it is desirable that the Royal
Bank of Fiji also have substantial input. The Review also

July 2015

Discussions of competition and
regulatory reform typically focus on price and quantity
effects. But improving certain infrastructure services can
also stimulate entry, and competition in user industries
downstream, allowing new firms to enter, incumbent users to
offer new products, and rivalry to intensify. The authors
present a case study of how innovations in road freight
services affect selected downstream users of those services

August 2014

In a globalizing world, cities at or
near the apex of the international urban hierarchy are among
the favored few--New York, London, and Tokyo--that have
acquired large economic, cultural, and symbolic roles. Among
a handful of regions that aspire to such a role--such as
Hong Kong, Miami, and Sao Paulo--Shanghai has reasonable
long-term prospects. If the Chinese economy can sustain its
growth rate, it will rival the United States in a few

August 2013

Bhutan has shown remarkable economic
performance over the last two decades. Growth during the
second half of the 1990s was particularly strong, with
annual Gross Domestic Product (GDP) growth averaging 6.5
percent. A large part of this performance has been supported
by generous inflows of foreign aid and buoyant electricity
exports to India, which have spurred growth both directly by
expanding export earnings and indirectly by stimulating

September 2013

This Country Economic Memorandum reviews
the significant changes Mozambique underwent in the last
five years, specifying that to continue its rapid growth,
and reduce its high levels of poverty, the country will need
to adopt a new set of reforms. Such reforms, focused on
increasing the profitability of agriculture, and promoting
labor-intensive manufacturing activities, hold the best hope
to move poverty into prosperity. Three factors - increased

August 2013

Forest resources directly contribute to
the livelihoods of 90 percent of the 1.2 billion people
living in extreme poverty and indirectly support the natural
environment that nourishes agriculture and the food supplies
of nearly half the population of the developing world.
Forests also are central to growth in many developing
countries through trade and industrial development. However,
mismanagement of this resource has cost governments revenues

April 2016

Production in 2004 was actually running
higher than consumption prior to 1995 and this has caused the existence of a world surplus of
baled cotton in the form of stocks in warehouse. It is the existence of these “ending stocks” that
has a large effect on the international price of cotton. Consumption began to
outpace production in 2001 to 2003 period and this, mixed with crop disasters in various regions,
caused the international price to rise. The reaction from many countries was to increase

August 2014

Are the household characteristics that
are good for transition to a more diversified
market-oriented development process in Vietnam also
important for reducing poverty? Or are there tradeoffs? The
determinants of both poverty incidence and participation in
rural off-farm activities are modeled as functions of
household and community characteristics using comprehensive
national household surveys for 1993 and 1998. Despite some

July 2013

The Russian Federation has one of the
richest natural resource endowments in the world. Despite
their importance in the Russian economy, natural resources
do not contribute as much as they could to public revenues.
Large resource rents (excess payments, or above-normal
profits generated by natural resources in scarce supply) are
dissipated through subsidies and wastage, or appropriated by
private interests. Failure to tax this rent means that taxes