Assessing Transaction Environment Conditions for Investment and Construction

Abstract

This paper contains characteristic description of the transaction-based approach and identifies problems of studying the transaction envi-ronment for investments and construction. It also discusses the results of transaction cost analysis in the real estate sector, and assessment of the business environment in Russia. The authors present indirect assessment of transaction environment through the economic freedom index, detailed particularly for Russia; they demonstrate the transaction environment structure and offer methodological recommendations on evaluation of transaction environment for investment and construction.