The Communications Revolution, Transactions Costs, Culture and Economics Performance

UCLA Working Paper No. 781

36 Pages Posted: 8 Oct 1999

See all articles by Deepak Lal

Deepak Lal

University of California, Los Angeles (UCLA) - Department of Economics; University College London

Date Written: February 1998

Abstract

In examining the effects of the communications revolution on economic performance, the paper makes a distinction between the exchange and policing aspects of transactions costs and shows how they can be mapped into what are distinguished as the material and cosmological beliefs of different cultures. It argues that whilst the transaction costs associated with 'exchange' will decline (using evidence from 15 developing countries on the costs of doing business), the effects on the 'policing' aspects of transactions costs are more ambiguous and likely to vary across cultures.

JEL Classification: Z1, O10, F02

Suggested Citation

Lal, Deepak K., The Communications Revolution, Transactions Costs, Culture and Economics Performance (February 1998). UCLA Working Paper No. 781, Available at SSRN: https://ssrn.com/abstract=185616 or http://dx.doi.org/10.2139/ssrn.185616

Deepak K. Lal (Contact Author)

University of California, Los Angeles (UCLA) - Department of Economics ( email )

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