New article in "Public Money & Management"
On the 21st of October an article "Public procurement transaction costs: a country-level assessment" by Olga Balaeva, Andrei Yakovlev, Yuliya Rodionova and Daniil Esaulov was published online in the "Public Money & Management"
Abstract: This paper presents a public procurement transaction cost evaluation using a large-scale survey of procurers and suppliers. The study was conducted in Russia in 2017. The results of the survey confirmed that the lower the contract value, the more expensive the procurement procedure. An empirical analysis of factors impacting public procurement cost evaluation also revealed considerable differences between respondents with and without experience in complex procurement procedures. The paper makes an important contribution to the academic literature by elaborating a new approach to public procurement cost evaluation, as well as providing an empirical evaluation of direct transaction costs of public procurement.
Full version of the article is avaliable here.