Abstract: Whether property right can reduce transaction cost is closely related to the adaptability of different property right structures and institutional environment under the property right separabilityTaking this as the basic idea, this paper takes the separability of property rights as the starting point, divides the types of property rights structure and institutional environment, and probes into the general mechanism of adaptive operation among property rights structure, institutional environment and transaction costThe optimization of property right structure and institutional environment can reduce transaction costsThe higher the matching degree between property right structure and institutional environment, the more transaction costs are reducedThe specific matching of six types of property right structure, such as government failure type and six types of institutional environment, such as negative national environmental level index type, can better explore the path of deep matching of production right structure and institutional environment to reduce transaction costs

Key words: property right structure, institutional environment, transaction cost

摘要： 产权能否降低交易成本与产权可分性下的不同产权结构与制度环境的适应性水平密切相关。以此为基本思路，本文以产权的可分性为切入点，对产权结构和制度环境进行了类型划分，并深入探究了产权结构、制度环境、交易成本间适应性下运行的一般机理。由此说明，产权结构、制度环境的优化均可降低交易成本，产权结构与制度环境的匹配度越高，交易成本降低越多。政府失灵型等六种产权结构类型与负国家环境水平指数型等六种制度环境类型的具体匹配，可以更好地探究出产权结构与制度环境深度匹配降低交易成本的路径。

关键词: 产权结构, 制度环境, 交易成本