APLICAÇÃO DA NOVA ECONOMIA INSTITUCIONAL AO AMBIENTE PORTUÁRIO: ANÁLISE DOS CUSTOS DE TRANSAÇÃO NO PORTO DE SANTOS

Abstract

This article seeks to identify transaction costs in the Port of Santos-Brazil. The key element used to identify transaction costs is the intensity of asset specificities. The analysis consider institutional changes due "Brazilian Port Modernization Act" and focus on investment decisions to port operations after the changes in the institutional environment that was motivated by the act number 8.630/93 (Brazilian Port Modernization Act). Subsequently the act, new players started to operate on port due changes on the property rights which allowed private direct investments. The mapping of transaction costs at three different sectors indicated the existence of medium and high asset specificities in different operations, concluding that port transactions involve important transaction costs, being necessary to improve property rights guarantees to incentive companies make investments, reduce conflicts and opportunistic behavior.