The Coase Theorem Revisited: Implications for Economic Transition

摘要: This paper supports the view expressed by other authors that Ronald Coase’s ideas are often misrepresented in academic world. It restates some of main findings with special emphasis on their relevance to processes taking place Eastern Europe. The goal this is revisit Coasean theory, prove oftentimes it and misinterpreted show its societies experiencing high transaction costs. role legal system under costs stressed importance transitional economies staggeringly tries shed light newly emerging markets respective courts government should play directing economic resources.