VILOYATLARARO YUK TASHISH BOZORIDA NORASMIY KOORDINATSIYA MEXANIZMI VA TRANZAKSION XARAJATLARNI VAQT EKVIVALENTIDA BAHOLASH

The paper analyses the informal institution that matches loads and trucks in Uzbekistan's inter-regional road freight market - spontaneous truck stands known as pitak and independent brokers - as an economic mechanism. It describes the value chain, the dual role of the broker and three structural defects of the system: first-come-first-served queuing, local information and the absence of records. Transaction costs in the informal market are shown to take mainly the form of time rather than money, and a method for valuing them through the opportunity cost of waiting is proposed. A five-level causal hierarchy of the sector's problems is built, and it is argued that policy should target the coordination mechanism rather than enforcement