THE OWNERSHIP SPECIFICATION AS THE BASIS FOR EFFECTIVE INSTITUTIONALIZATION OF PARTNER ECONOMIC RELATIONS
DOI:
https://doi.org/10.32461/2226-3209.1.2018.178186Abstract
Abstract: The sphere of circulation (market exchange) mediates not only a simple bilateral transfer of goods, services or money between economic agent but it is a multi-level system of relationships between participants in market transactions, both through the exchange of material goods, services, financial assets, and through the supply and demand of numerous institutions that can reduce the various forms of transaction costs. The exchange is not just an institutionalization purchase and sale relationship between participants in the market transaction. In practice, formal contract is a form of economic exchange implementation that postulates all the transaction conditions.
Keywords: state - private partnership (SPP), public procurements, efficiency of SPP, transaction expenses,
economic contacts.
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