Analysis and Enlightenment of Transaction Costs and Institutional Change

These terms,transaction and transition,are all related to the specific operations in economy such as optimization of resource distribution and efficiency.As the reform in China goes further, the optimization of resource distribution,the cost of reform and the efficiency of economic operation should be taken not only into account,but also as a benchmark to test the effectiveness of reforms.All that mentioned above are intrinsically connected with the institutional arrangements to some extent,so it is important to study the issues of transaction costs and institutional change,to pay attention to the commonness of market operation,to follow the principles of economy and to think much of the right scale of international rules for ensuring the reform going further to the right place.