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Organisation of agrarian transactions in transitional economies

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  • Bachev, Hrabrin

Abstract

Basic principles of the Translation Costs Economics have been incorporated to the agrarian economy. Agrarian transactions have been put on the centre of economic analysis. Critical dimensions of agricultural transaction have been determined. Structure of costs for alternative governance modes of transacting has been specified. Microeconomics factors for institutional development in transitional Bulgarian agriculture have been examined. Specific transitional agrarian structure has been determined by high level of asset specificity, big uncertainty and less frequency of transactions. Predominance of spot market transactions, big reliance on informal and interlinked transacting, great extend of integrated modes, part time farming and production cooperative phenomenon, block of credit and extension supply transactions, and strong necessity for third part involvement have been explained from transaction costs economising perspectives. Effective boundaries of market and private organisations of agrarian transactions have been determined, and framework for Government intervention has been worked out.

Suggested Citation

  • Bachev, Hrabrin, 1996. "Organisation of agrarian transactions in transitional economies," MPRA Paper 99499, University Library of Munich, Germany.
    • Handle: RePEc:pra:mprapa:99499
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    File URL: https://mpra.ub.uni-muenchen.de/99499/1/MPRA_paper_99499.pdf
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    References listed on IDEAS

    as
    1. Thomas L. Sporleder, 1992. "Managerial Economics of Vertically Coordinated Agricultural Firms," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 74(5), pages 1226-1231.
    2. North, Douglass C, 1994. "Economic Performance through Time," American Economic Review, American Economic Association, vol. 84(3), pages 359-368, June.
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    Cited by:

    1. Bachev, Hrabrin, 2010. "Competitiveness of Bulgarian farms," MPRA Paper 25626, University Library of Munich, Germany.
    2. Bachev, Hrabrin, 2012. "Competitiveness of Bulgarian Farms in Conditions of EU CAP Implementation," MPRA Paper 41657, University Library of Munich, Germany.

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    More about this item

    Keywords

    New Institutional Economics; agrarian transactions; transaction costs; market; private; public; hybrid governance; transition; Bulgaria;
    All these keywords.

    JEL classification:

    • Q1 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Agriculture
    • Q12 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Agriculture - - - Micro Analysis of Farm Firms, Farm Households, and Farm Input Markets
    • Q13 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Agriculture - - - Agricultural Markets and Marketing; Cooperatives; Agribusiness
    • Q14 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Agriculture - - - Agricultural Finance
    • Q15 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Agriculture - - - Land Ownership and Tenure; Land Reform; Land Use; Irrigation; Agriculture and Environment
    • Q16 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Agriculture - - - R&D; Agricultural Technology; Biofuels; Agricultural Extension Services
    • Q18 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Agriculture - - - Agricultural Policy; Food Policy; Animal Welfare Policy

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