The Inter-Enterprise Debt Explosion in the Former Soviet Union: Causes, Consequences, Cures
AbstractThe reasons for the growth of inter-enterprise debt analyzed. It is suggested that it results mainly from the appearance of normal trade credit in a liberalized economy, and when a monetary squeeze is part of a non-credible stabilization attempt. In the latter case the results can be a sharp fall in output. Non-market and market solutions to this problem are analyzed, and the advantages of the latter over the former are stressed.
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Bibliographic InfoPaper provided by Centre for Economic Performance, LSE in its series CEP Discussion Papers with number dp0142.
Date of creation: Apr 1993
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