INSTITUTIONS AND TRANSACTIONAL COST OF PUBLIC PROCUREMENTS
INSTITUTIONS AND TRANSACTIONAL COST OF PUBLIC PROCUREMENTS

Summary/Abstract: The economic transformation in Poland required the creation of a public procurement system from the very beginning. The process of establishing new institutions, modifying and replacing the existing ones should result in decreasing transaction costs. The paper discusses certain public procurement institutions (the principle of open proceedings, the criteria of selecting the best tender, tender security, list of contractors excluded from the public procurement market) in the context of transaction costs.

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