Distribution of transaction costs in the investment and construction sector of the Russian Federation
Introduction. The relevance of the analysis of transaction costs is associated with a significant share of the transaction sector in the gross domestic product (GDP) of the national economy, a change in which can be associated with both the efficiency and inefficiency of the built institutional envi...
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| Format: | Article |
| Language: | English |
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Moscow State University of Civil Engineering (MGSU)
2023-11-01
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| Series: | Vestnik MGSU |
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| Online Access: | https://www.vestnikmgsu.ru/jour/article/view/117 |
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| author | R. R. Kozakov V. A. Koshcheev |
| author_facet | R. R. Kozakov V. A. Koshcheev |
| author_sort | R. R. Kozakov |
| collection | DOAJ |
| description | Introduction. The relevance of the analysis of transaction costs is associated with a significant share of the transaction sector in the gross domestic product (GDP) of the national economy, a change in which can be associated with both the efficiency and inefficiency of the built institutional environment. The purpose of the study is to develop recommendations for influencing the elements of the institutional environment to optimize administrative barriers typical for the investment and construction sector (ICS) of the Russian Federation. The novelty of the author’s approach is formed by considering the aspect of distribution of transaction costs under the influence of heterogeneous contracts between the participants of the ICS.Materials and methods. The data of Rosstat on the structure of the gross domestic product of the Russian Federation are used, the results of international studies on quantitative and qualitative assessment of transaction costs in construction are analyzed. The study was based on the tools of institutional theories, as well as general scientific methods.Results. Distributors of transaction costs in the investment and construction sector of the Russian Federation are revealed: customer predictability, institutional rent of the contractor, institutional rent of the developer, completeness of relational contracts to ensure customer predictability, information on the profitability of bypassing formal rules by subjects of the investment and construction sector, digitalization.Conclusions. The description of transaction costs through the aspect of their distribution allows to formalize a model of their quantitative or qualitative measurement, taking into account the impact of the institutional environment in the Russian Federation. |
| format | Article |
| id | doaj-art-1626d9ee49644fd3a80ee9d543f8d0c9 |
| institution | Kabale University |
| issn | 1997-0935 2304-6600 |
| language | English |
| publishDate | 2023-11-01 |
| publisher | Moscow State University of Civil Engineering (MGSU) |
| record_format | Article |
| series | Vestnik MGSU |
| spelling | doaj-art-1626d9ee49644fd3a80ee9d543f8d0c92025-01-09T08:22:49ZengMoscow State University of Civil Engineering (MGSU)Vestnik MGSU1997-09352304-66002023-11-0118111821183510.22227/1997-0935.2023.11.1821-183550Distribution of transaction costs in the investment and construction sector of the Russian FederationR. R. Kozakov0V. A. Koshcheev1St. Petersburg State University of Economics (SPbSUE)St. Petersburg State University of Architecture and Civil Engineering (SPbGASU)Introduction. The relevance of the analysis of transaction costs is associated with a significant share of the transaction sector in the gross domestic product (GDP) of the national economy, a change in which can be associated with both the efficiency and inefficiency of the built institutional environment. The purpose of the study is to develop recommendations for influencing the elements of the institutional environment to optimize administrative barriers typical for the investment and construction sector (ICS) of the Russian Federation. The novelty of the author’s approach is formed by considering the aspect of distribution of transaction costs under the influence of heterogeneous contracts between the participants of the ICS.Materials and methods. The data of Rosstat on the structure of the gross domestic product of the Russian Federation are used, the results of international studies on quantitative and qualitative assessment of transaction costs in construction are analyzed. The study was based on the tools of institutional theories, as well as general scientific methods.Results. Distributors of transaction costs in the investment and construction sector of the Russian Federation are revealed: customer predictability, institutional rent of the contractor, institutional rent of the developer, completeness of relational contracts to ensure customer predictability, information on the profitability of bypassing formal rules by subjects of the investment and construction sector, digitalization.Conclusions. The description of transaction costs through the aspect of their distribution allows to formalize a model of their quantitative or qualitative measurement, taking into account the impact of the institutional environment in the Russian Federation.https://www.vestnikmgsu.ru/jour/article/view/117transaction costsinstitutional environmentconstruction sectorcontractual relationsinstitutional trapsinteraction of economic agentscorporate control |
| spellingShingle | R. R. Kozakov V. A. Koshcheev Distribution of transaction costs in the investment and construction sector of the Russian Federation Vestnik MGSU transaction costs institutional environment construction sector contractual relations institutional traps interaction of economic agents corporate control |
| title | Distribution of transaction costs in the investment and construction sector of the Russian Federation |
| title_full | Distribution of transaction costs in the investment and construction sector of the Russian Federation |
| title_fullStr | Distribution of transaction costs in the investment and construction sector of the Russian Federation |
| title_full_unstemmed | Distribution of transaction costs in the investment and construction sector of the Russian Federation |
| title_short | Distribution of transaction costs in the investment and construction sector of the Russian Federation |
| title_sort | distribution of transaction costs in the investment and construction sector of the russian federation |
| topic | transaction costs institutional environment construction sector contractual relations institutional traps interaction of economic agents corporate control |
| url | https://www.vestnikmgsu.ru/jour/article/view/117 |
| work_keys_str_mv | AT rrkozakov distributionoftransactioncostsintheinvestmentandconstructionsectoroftherussianfederation AT vakoshcheev distributionoftransactioncostsintheinvestmentandconstructionsectoroftherussianfederation |