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Cambios institucionales en la economía rusa: de las reformas de mercado a la consolidación monetaria

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  • Isabel Pla Julián

    ()
    (Universidad de Valencia)

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    Abstract

    The main characteristic of the transition from a planned to a market economy in Russia has been the barter economy. Firms are using non-monetary transactions as a result of the scarcity of the means of payment and as a means to avoid taxes and reduce fiscal obligations. The barter economy is a rational mechanism of survival and protection from new market reforms, and for taking advantage of the networks inheritated from the centralized period. This non-monetary functioning of the Russian economy has increased the costs of the economic system and new market economy reforms concentrated on monetary consolidation haven’t produced the expected results, because public polices were not credible and policy makers didn’t anticipate the appearance of new firms in the transition period.

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    File URL: http://www.uexternado.edu.co/facecono/ecoinstitucional/workingpapers/ipla8.pdf
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    Bibliographic Info

    Article provided by Universidad Externado de Colombia - Facultad de Economía in its journal Revista de Economía Institucional.

    Volume (Year): 5 (2003)
    Issue (Month): 8 (January-June)
    Pages: 66-91

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    Handle: RePEc:rei:ecoins:v:5:y:2003:i:8:p:66-91

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    Related research

    Keywords: economic transition; monetary markets; barter economy;

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    1. Wendy Carlin & Steven Fries & Mark Schaffer & Paul Seabright, 2000. "Barter and non-monetary transactions in transition economies: Evidence from a cross-country survey," Working Papers 50, European Bank for Reconstruction and Development, Office of the Chief Economist.
    2. Sergei V. Alexashenko & Augusto López-Claros, 1998. "Fiscal Policy," IMF Occasional Papers 155, International Monetary Fund.
    3. Prendergast, Canice & Stole, Lars, 2000. "Barter relationships," MPRA Paper 33400, University Library of Munich, Germany.
    4. Jan Amrit Poser, 1998. "Monetary disruptions and the emergence of barter in FSU economies," Post-Communist Economies, Taylor & Francis Journals, vol. 10(2), pages 157-177.
    5. Ickes, B.W. & Ryterman, R., 1993. "Roadblock to Economic Reform: Inter-Enterprise Debt and the Transition to Markets," Papers 2-93-1, Pennsylvania State - Department of Economics.
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