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Transactional Governance Structures: New Cross-Country Data and an Application to the Effect of Uncertainty

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dc.contributor.authorFrancis, David C.
dc.contributor.authorKaralashvili, Nona
dc.contributor.authorMurrell, Peter
dc.date.accessioned2022-07-08T19:23:44Z
dc.date.available2022-07-08T19:23:44Z
dc.date.issued2022-07
dc.description.abstractTo what extent are personal trust, mutual interests, and third parties important in enforcing agreements to trade How do firms combine these to form transactional governance structures This paper answers these questions in a whole-economy, cross-country setting that considers a full spectrum of transactional-governance strategies. The data collection requires a new survey question answerable in any context. The question is applied in six South American countries using representative samples, with the resultant survey weights facilitating a whole-economy analysis. Without imposing an a priori model, latent class analysis estimates meaningful governance structures. Bilateralism is always used. Law is never used alone. Bilateralism and formal institutions are rarely substitutes. Within country, inter-regional variation in governance is greater than inter-country variation. The usefulness of the data is shown by testing one element of Williamson's discriminating-alignment agenda: greater uncertainty in the transactional environment increases the involvement of third parties.en
dc.identifierhttp://documents.worldbank.org/curated/en/099738507052218969/IDU0fb2722fc057f10461708ce60933971e612b2
dc.identifier.doi10.1596/1813-9450-10118
dc.identifier.urihttps://hdl.handle.net/10986/37668
dc.languageEnglish
dc.language.isoen_US
dc.publisherWashington, DC : World Bank
dc.relation.ispartofseriesPolicy Research Working Paper;10118
dc.rightsCC BY 3.0 IGO
dc.rights.holderWorld Bank
dc.rights.urihttp://creativecommons.org/licenses/by/3.0/igo
dc.subjectGOVERNANCE
dc.subjectTRANSACTIONS
dc.subjectLAW
dc.subjectBILATERALISM
dc.subjectTRANSACTION COSTS
dc.subjectUNCERTAINTY
dc.titleTransactional Governance Structuresen
dc.title.subtitleNew Cross-Country Data and an Application to the Effect of Uncertaintyen
dc.typeWorking Paperen
dc.typeDocument de travailfr
dc.typeDocumento de trabajoes
dspace.entity.typePublication
okr.date.disclosure2022-07-06
okr.date.lastmodified2022-07-06T00:00:00Zen
okr.doctypePublications & Research
okr.doctypePublications & Research::Policy Research Working Paper
okr.docurlhttp://documents.worldbank.org/curated/en/099738507052218969/IDU0fb2722fc057f10461708ce60933971e612b2
okr.guid099738507052218969
okr.identifier.doi10.1596/1813-9450-10118
okr.identifier.externaldocumentum33862074
okr.identifier.internaldocumentum33862074
okr.identifier.reportWPS10118
okr.importedtrueen
okr.language.supporteden
okr.pdfurlhttp://documents.worldbank.org/curated/en/099738507052218969/pdf/IDU0fb2722fc057f10461708ce60933971e612b2.pdfen
okr.region.geographicalWorld
okr.topicGovernance::Governance and the Financial Sector
okr.topicLaw and Development::Financial Law
okr.unitDevelopment Economics, Global Indicators Group
relation.isSeriesOfPublication26e071dc-b0bf-409c-b982-df2970295c87
relation.isSeriesOfPublication.latestForDiscovery26e071dc-b0bf-409c-b982-df2970295c87
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