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To Restructure or Not to Restructure: Informal Activities and Enterprise Behavior in Transition

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Author Info
Clifford Gaddy
Barry W. Ickes
Abstract

We analyze the process of restructuring in Russia. The Russian economy is bifurcating as some enterprises restructure and reduce the distance to the market, while other enterprises exploit relationship capital to survive without restructuring. Survival in this environment depends on initial conditions and on investment in relations with officials. Enterprises can produce cash and non-cash goods, and this choice effects the survival possibilities in subsequent periods. Implications of the theory, with special reference to monetary policy, barter, intergovernmental fiscal relations, and Financial Industrial Groups, are discussed.

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Paper provided by William Davidson Institute at the University of Michigan Stephen M. Ross Business School in its series William Davidson Institute Working Papers Series with number 134.

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Date of creation: 01 Feb 1998
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Handle: RePEc:wdi:papers:1998-134

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  1. Guriev, Sergei & Makarov, Igor & Maurel, Mathilde, 2001. "Debt Overhang and Barter in Russia," CEPR Discussion Papers 2686, C.E.P.R. Discussion Papers. [Downloadable!] (restricted)
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  2. Agapov Stanislav & Boyarchenko Svetlana & Levendorsky Sergey, 2003. "A Three-Sector Model of the Russian Virtual Economy," EERC Working Paper Series 02-06e, EERC Research Network, Russia and CIS. [Downloadable!]
  3. Lambert-Mogiliansky, Ariane & Sonin, Konstantin & Zhuravskaya, Ekaterina, 2000. "Capture of Bankruptcy: Theory and Evidence from Russia," CEPR Discussion Papers 2488, C.E.P.R. Discussion Papers. [Downloadable!] (restricted)
  4. Jorge Martinez-Vazquez & Felix Rioja & Samuel Skogstad & Neven Valev, 2000. "IMF Conditionality and Objections: The Russian Case," International Studies Program Working Paper Series, at AYSPS, GSU paper0003, International Studies Program, Andrew Young School of Policy Studies, Georgia State University. [Downloadable!]
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  5. Richard E. Ericson, 2002. "The Russian economy," Discussion Papers 0102-07, Columbia University, Department of Economics. [Downloadable!]
  6. Kim, Byung-Yeon & Pirttilä, Jukka & Rautava, Jouko, 2001. "Money, Barter and Inflation in Russia," BOFIT Discussion Papers 15/2001, Bank of Finland, Institute for Economies in Transition. [Downloadable!]
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  7. Vedran Sosic & Michael Faulend, 2002. "Dollarisation and the Underground Economy: Accidental Partners?," Occasional paper series 15, Institute of Public Finance. [Downloadable!]
  8. Y. Blam & L. Carlsson & M-O. Olsson, 2000. "Institutions and the Emergence of Markets - Transition in the Irkutsk Forest Sector," Working Papers ir00017, International Institute for Applied Systems Analysis. [Downloadable!]
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  11. Guriev, Sergei & Kvassov, Dmitry, 2000. "Barter For Price Discrimination?," CEPR Discussion Papers 2449, C.E.P.R. Discussion Papers. [Downloadable!] (restricted)
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  12. Sergei Guriev & Dmitry Kvassov, 2000. "Price Discrimination Through Barter: A Theory and Evidence from Russia," Econometric Society World Congress 2000 Contributed Papers 0397, Econometric Society. [Downloadable!]
  13. Valentijn Bilsen & P Van Maldegem, 1999. "Foreign Direct Investment and Enterprise Performance in Transition Countries: Evidence from Russia and Ukraine," ESRC Centre for Business Research - Working Papers wp144, ESRC Centre for Business Research. [Downloadable!]
  14. Brana, Sophie & Maurel, Mathilde, 1999. "Barter in Russia: Liquidity Shortage Versus Lack of Restructuring," CEPR Discussion Papers 2258, C.E.P.R. Discussion Papers. [Downloadable!] (restricted)
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  15. N.K. Warner-Merl, 1999. "An Emissions Tax in Siberia: Economic Theory, Firm Response, and Noncompliance in Imperfect Markets," Working Papers ir99027, International Institute for Applied Systems Analysis. [Downloadable!]
  16. Yakovlev, Andrei, 1999. "Black cash tax evasion in Russia: Its forms, incentives and consequences at firm level," BOFIT Discussion Papers 3/1999, Bank of Finland, Institute for Economies in Transition. [Downloadable!]
  17. L. Ivanova & V. Nygaard, 1999. "Institutions and the Emergence of Markets - Transition in the Murmansk Forest Sector," Working Papers ir99071, International Institute for Applied Systems Analysis. [Downloadable!]
  18. Ericson, R. E. & Ickes, B. W., 2000. "A Model of Russia’s "Virtual Economy"," BOFIT Discussion Papers 10/2000, Bank of Finland, Institute for Economies in Transition. [Downloadable!]
  19. Klarita Gerxhani, 1999. "Informal Sector in Developed and less Developed Countries: A Literature Survey," Tinbergen Institute Discussion Papers 99-083/2, Tinbergen Institute. [Downloadable!]
  20. Svetlana Boyarchenko & Sergei Levendorskii, 2004. "Inside and Outside Money, with an Application to the Russian Virtual Economy," Macroeconomics 0405009, EconWPA. [Downloadable!]
  21. Andrei Yakovlev, 2000. "Barter in the Russian Economy: Classifications and Implications (Evidence from Case Study Analyses)," Post-Communist Economies, Taylor and Francis Journals, vol. 12(3), pages 279-291, September. [Downloadable!] (restricted)
  22. John E. Anderson, 2005. "Fiscal Reform and its Firm-Level Effects in Eastern Europe and Central Asia," William Davidson Institute Working Papers Series wp800, William Davidson Institute at the University of Michigan Stephen M. Ross Business School. [Downloadable!]
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