The role of transaction costs in the development of the digital economy

Transaction costs hinder the free circulation of resources in the economy. They influence economic decision-making, lead to the impossibility of making potentially mutually beneficial transactions, which reduces the efficiency of the market and the economy as a whole. In the context of the development of digitalization of data, transaction costs are reduced, their structure is changing. In the conditions of the modern digital economy, the quality of the institutional environment can be judged by the transaction costs. The article is devoted to the study of the role of transaction costs in the digital economy. The relationship between transaction costs and the institutional environment is described, new institutions and their importance in reducing transactions are determined.