Constraints on Enterprise Liquidity and their Impact on the Monetary Sector in Formerly Centrally Planned Economies
AbstractThis paper demonstrates that the monetary policy of the National Bank of Hungary is restrictive and has ignored the liquidity problems raised by the overhang of inter-enterprise liquidity. The implication is that the success of the transition to market is thereby jeopardized.
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Bibliographic InfoPaper provided by C.E.P.R. Discussion Papers in its series CEPR Discussion Papers with number 841.
Date of creation: Dec 1993
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Find related papers by JEL classification:
- E51 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Money Supply; Credit; Money Multipliers
- G32 - Financial Economics - - Corporate Finance and Governance - - - Financing Policy; Financial Risk and Risk Management; Capital and Ownership Structure; Value of Firms; Goodwill
- H32 - Public Economics - - Fiscal Policies and Behavior of Economic Agents - - - Firm
- P52 - Economic Systems - - Comparative Economic Systems - - - Comparative Studies of Particular Economies
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- Buch, Claudia M., 1995. "Monetary policy and the transformation of the banking system in Eastern Europe," Kiel Working Papers 676, Kiel Institute for the World Economy.
- G. Alfandari & M.E. Schaffer, 1996. ""Arrears" in the Russian Enterprise Sector," CERT Discussion Papers 9608, Centre for Economic Reform and Transformation, Heriot Watt University.
- Luoana D. Santarossa, 2001. "Arrears as a Sign of Financial Repression in Transition Economies - The Case of Romania," CERT Discussion Papers 0104, Centre for Economic Reform and Transformation, Heriot Watt University.
- Buch, Claudia M., 1996. "Russian monetary policy: Assessing the track record," Kiel Working Papers 786, Kiel Institute for the World Economy.
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