Pushkinskaya st. 43. office 10
Rostov-on-Don, Russia
e-mail: info@hjournal.ru 
tel. +7(863) 269-88-14

cubsEN (2)

Transactional Costs in Higher Education in the Context of the Organizational and Institutional Changes

Transactional Costs in Higher Education in the Context of the Organizational and Institutional Changes

Journal of Economic Regulation, , Vol. 9 (no. 3),

The problems of qualitative and quantitative measurement of the transaction costs of actors in the educational process are relevant, since their identification makes it possible to judge the effectiveness of organizational and institutional changes in the sphere of higher education, primarily in reorganized universities. In this article, the main approaches to identifying transaction costs in the education sector are disclosed, their classification is considered. Based on the analysis of modern practices of measuring the transaction sector in business, public procurement and public health services, a methodology for its evaluation for the actors of the educational process was proposed. The solution of the indicated general and particular problems will serve as a complement to the methodology for assessing the effectiveness of ongoing reforms in the sphere of Russian higher education by the example of federal and support universities.

Keywords: transaction costs; original institutionalism; metrics; flagship and federal universities; higher education reforms

  • Auzan, A. A. (2011). Institutional economy. New institutional economic theory. 2 nd ed. Moscow: Infra-M, 447 p.
  • Volchik, V. V., Zhuk, A. A. and Korytsev, M. A. (2017). Competitive environment of the market of higher education in the Rostov region. Terra Economicus, 15(3), 178–196.
  • Volchik, V. V. and Zotova, T. A. (2011). Adaptive rationality and economic behavior in the evolutionary context. Terra Economicus, 9(4), 54–64.
  • Volchik, V. V. and Nechaev, A. D. (2015). Transactional analysis of public procurement: Monograph. Rostov-on-Don: Publishing house «Sodeystvie – ХХI vek».
  • Volchik, V. V. and Oganesyan, A. A. (2014). Why do we need an old institutional economy, if there is neoinstitutionalism? Terra Economicus, 12(4), 79–90.
  • Kapelyushnikov, R. I. (1994). Transaction costs category, Information portal «Liberty Institute Moscow Libertarium» (http://www.libertarium.ru/l_libsb3_1-2).
  • Popov, E. V., Vlasov, M. V. and Dushechkina, A. K. (2013). Transactional rates of knowledge generation by the university. University management, 2, 12–19.
  • Trubnikova, E. I. (2014). Transaction costs of the activity of an employee of higher education. Economics of Education, 1, 60–65.
  • Williamson, O. I. (1993), Behavioral Prerequisites of Modern Economic Analysis. THESIS, 1(3), 39–49.
  • Williamson, O. I. (1996). Economic Institutions of Capitalism. Firms, markets, «relative» contracting (p. 97–101). St. Petersburg: Lenizdat.
  • Bhardwaj, R. and Brooks, L. (1992). The January anomaly: effects of low share price, transaction costs, and the bid-ask bias. Journal of Finance, 47, 553–574.
  • Commons, J. R. (1924). Legal Foundations of Capitalism. New York: The Macmillan Company.
  • Commons, J. R. (1931). Institutional Economics. New York: Macmillan.
  • Demsetz, H. (1968). Cost of Transacting. Quarterly Journal of Economics, 33–53.
  • Lesmond, D., Ogden, J. and Trzcinka, Ch. (1999). A New Estimate of Transaction Costs. Review of Financial Studies, 12(5), 1113–1141.
  • Peters, G. W. (2016). Understanding modern banking ledgers through blockchain technologies: Future of transaction processing and smart contracts on the internet of money. Banking Beyond Banks and Money. Springer, 239–278.
  • Stoll, R. and Whaley, E. (1983). Transaction costs and the small firm effect. Journal of Financial Economics, 12(1), 57–79. DOI: 10.1016/0304-405X(83)90027-2.
  • Veblen, T. (1899). The Theory of the Leisure Class: An Economic Study in the Evolution of Institutions. United States: Macmillan.
  • Wallis, J. and North, D. (1986). Measuring the Transaction Sector in the American Economy, 1870–1970 / Long-term factors in American Economic Growth, Engermann S., Gallman R. (eds.) (p. 95–161).Chicago: University of Chicago Press.
  • Williamson, O. E. (1993). Opportunism and its Critics. Managerial and Decision Economics, 14, 97–107.
Publisher: Ltd. "Humanitarian perspectives"
Founder: Ltd. "Humanitarian perspectives"
Online ISSN: 2412-6047
ISSN: 2078-5429