资源描述：
《高级微观经济学(黄有光)TransactionEfficiency-overhead》由会员上传分享，免费在线阅读，更多相关内容在工程资料-天天文库。
1、WhyDoGovernmentsEncourageImprovementsinInfrastructure?IndirectNetworkExternalityofTransactionEfficiencyYew-KwangNg&SiangNgDivisionofAppliedEconomics,NBS，NanyangTechnologicalUniversity,(Email:aykn£(g)ntii・edii・S2)(Visitingfrom:MonashUniversity,Australia)Email:kwan
2、g.ng@buseco.monash.edu.auSiang.ng@buseco.monash.edu.auAbstractGovernmentshavebeenveryactiveinengaginginandinencouragingtheimprovementsintransactionefficiency,includingtheprovisionoflegal,social,andeconomicinfrastructures.Whilethismaypartlybeexplainedbythepublicgo
3、odsnature,thepresenceofindirectnetworkexternalitiesduetotheeconomiesofspecializationmayalsobeimportant.Theimprovementintransaction(includingcommunicationandtransportation)efficiencymaygeneratebenefitsinexcessofthedirectprivatebenefitsthroughthepromotionofhigherde
4、greeofspecialization.ThisisshownintheYang-Ngframeworkofinframarginalanalysis.Whydogovernmentsencourageimprovementsintransactionefficiency?•Takingthedegreeofspecializationasendogenous,theprovisionofinfrastructuresthatdecreasestransactioncostsmayproducesomeindirect
5、networkexternality.•Differentfromthepossiblenetworkexternalityoftheinfrastructureitself.E.g.theusefulnessofatelephone,faxmachine,oremailfacilityincreasesasmorepeopleareonthephone,etc.Thisisthedirectnetworkexternality,whichweshallabstractaway.Rather,werefertothefo
6、llowingmoreindirecteffects・•Throughthepromotionofhigherdegreeofspecialization,theimprovementintransaction(includingcommunicationandtransportation)efficiencymaygeneratebenefitsinexcessofthedirectprivatebenefits・•Iftransactionefficiencyisverylow(i.e.transactioncost
7、sareveryhigh),itmaybeoptimalforeveryonetobeinautarky,self producingallgoodsneeded・Astransactionefficiencyimproves,itmaybecomesoptimaltobuysomegoodsfromothersandsellthegoodonespecializesin,butingeneralstillhavesomegoodsself-producedandself-consumed・•Astransactione
8、fficiencyimproves,thesetofgoodsboughtfromothersexpands.Thus,transactionefficiencytnotonlyJcostsoftransaction,butalsoindirectlyteconomiesofspecialization.•Eveni
