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Quelques réflexions théoriques sur la crise des paiements en Russie

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  • Laurence Scialom

Abstract

[fre] Quelques réflexions théoriques sur la crise des paiements en Russie. . La monnaie dans une économie de marché est ici théoriquement analysée comme un ensemble de règles jouant le rôle de dispositif de mémorisation. Cette hypothèse apparaît fructueuse pour concevoir une véritable décentralisation des transactions effectives, et donc, le marché en tant que moyen de coordination ex-post des agents. En fait, cette conception de la monnaie est assimilable au concept d'organisation des paiements. L'objet de ces développements théoriques est de mettre en exergue une des entraves structurelles majeures au passage à l'économie de marché : l'économie russe actuelle n'est pas une économie monétaire au sens précédemment défini. La récente évolution vers une économie de cash in advance, loin d'infirmer notre diagnostic, le renforce, en ce que le prépaie­ment doit être interprété comme une défiance absolue à l'égard du système de paiement. Pour être un moyen de coordination ex-post, le marché a besoin d'un système de paiement donnant un sens à la contrainte budgétaire intertemporelle ou contrainte de solvabilité. Cela n'existe pas actuellement en Russie. [eng] The russian payment crisis : atheoretical point of view . . In this paper, money in a market economy is theoretically analysed as a set of rules acting as a record keeping device. This assumption appears useful to conceive a real decentralization of transactions, and thus, the market as a mean of ex-post coordination between agents. In fact, our conception of money is akin to the concept of payment organization. This theoretical analysis aims to point out one of the main structural impediment to the transition to market economy : the current russian economy is not a monetary economy in the sense previously defined. The recent evolution towards a cash in advance economy do not weaken our diagnosis. At the contrary, the pre-payment has to be interpreted as an absolute distrust with respect to the payment system. To be an ex-post mean of coordination, the market needs a payment system giving sense to the intertemporal budgetary constraint or solvency constraint. Actually, this condition do not exist in Russia.

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  • Laurence Scialom, 1994. "Quelques réflexions théoriques sur la crise des paiements en Russie," Revue Économique, Programme National Persée, vol. 45(3), pages 601-612.
    • Handle: RePEc:prs:reveco:reco_0035-2764_1994_num_45_3_409550
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    1. Daniel C. Hardy & Ashok Kumar Lahiri, 1992. "Bank Insolvency and Stabilization in Eastern Europe," IMF Staff Papers, Palgrave Macmillan, vol. 39(4), pages 778-800, December.
    2. Mr. Hugh Bredenkamp, 1993. "Conducting Monetary and Credit Policy in Countries of the Former Soviet Union: Some Issues and Options," IMF Working Papers 1993/023, International Monetary Fund.
    3. International Monetary Fund, 1992. "Bank Insolvency and Stabilization in Eastern Europe," IMF Working Papers 1992/009, International Monetary Fund.
    4. Ostroy, Joseph M, 1973. "The Informational Efficiency of Monetary Exchange," American Economic Review, American Economic Association, vol. 63(4), pages 597-610, September.
    5. Mr. Andrew T. Hook, 1992. "Managing Payment System Risk During the Transition From a Centrally Planned to a Market Economy," IMF Working Papers 1992/095, International Monetary Fund.
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    1. Laurence Scialom & Hélène Clément-Pitiot, 1995. "Réformer l'intermédiation financière en Russie : des options," Revue Économique, Programme National Persée, vol. 46(2), pages 433-455.

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