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Division Of Labour And Transaction Costs: An Introduction

Author

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  • YEW-KWANG NG

    (Department of Economics, Monash University, Clayton, Victoria, Australia 3800, Australia)

Abstract

While the role of division of labour is very important, in itself its scope for promoting economic growth is limited. This scope is tremendously expanded when division of labour is compounded with that of capital accumulation and technical progress and the interaction/reinforcing effects between these three important sources and their interaction with growth itself. The pioneering work of Xiaokai Yang's contributions to the analysis of the division of labour and the evolution of economic organization and growth is also briefly outlined and some future research directions, especially regarding the problems of coordination/entrepreneurship and economic efficiency, is discussed.

Suggested Citation

  • Yew-Kwang Ng, 2005. "Division Of Labour And Transaction Costs: An Introduction," Division of Labor & Transaction Costs (DLTC), World Scientific Publishing Co. Pte. Ltd., vol. 1(01), pages 1-13.
    • Handle: RePEc:wsi:dltcxx:v:01:y:2005:i:01:n:s0219871105000025
    DOI: 10.1142/S0219871105000025
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    More about this item

    Keywords

    Division of labour; transaction costs; increasing returns; capital accumulation; technical progress;
    All these keywords.

    JEL classification:

    • C62 - Mathematical and Quantitative Methods - - Mathematical Methods; Programming Models; Mathematical and Simulation Modeling - - - Existence and Stability Conditions of Equilibrium
    • D - Microeconomics
    • E1 - Macroeconomics and Monetary Economics - - General Aggregative Models
    • F - International Economics
    • F11 - International Economics - - Trade - - - Neoclassical Models of Trade
    • F12 - International Economics - - Trade - - - Models of Trade with Imperfect Competition and Scale Economies; Fragmentation
    • F16 - International Economics - - Trade - - - Trade and Labor Market Interactions
    • J2 - Labor and Demographic Economics - - Demand and Supply of Labor
    • J3 - Labor and Demographic Economics - - Wages, Compensation, and Labor Costs
    • L - Industrial Organization
    • O - Economic Development, Innovation, Technological Change, and Growth

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