This timely book presents practical applications of modern economic
theories to trade, transaction costs and institutions within both
business and governmental realms. Frank A.G. den Butter explains
the importance and means of keeping transaction costs as low as
possible. He illustrates how this transaction management can
contribute to making firms and nations more competitive by
exploiting gains from the division of labour and international
fragmentation of production, and uses relevant case studies to
illustrate how value is created by reducing transaction costs.
Policy recommendations for strengthening the competitive position
of trading nations and reducing implementation costs of government
policy are presented, and management methods for creating value in
organizing production on a global scale are prescribed. A
wide-ranging audience encompassing economists in academia,
government and business; managers in industry and government; and
students of economics, business and globalization will find this
book to be a crucial reference tool.
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