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Inter-Firm Non-Monetary Transactions in Russia: A Literature Review

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Author Info
Richard B. Goud Jr. (Reed College undergraduate student)

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Abstract

This paper provides a comprehensive literature review of the use of non- monetary transactions (barter, debt offsets, etc.) in Russia since the fall of Communism. The two primary theories are the credit crunch (liquidity constraint) theory and the virtual economy theory. The former relates to the lack of access to bank credit and cash and the rise of non-monetary transactions as a survival mechanism that oils the gears of the market. The latter asserts that barter is a symptom of a system by which the value added firms (such as Gasprom) subsidize the value destroying firms (the 'white elephants'). Barter allows the two players to arbitrarily set prices so that the value added firm can avoid some of the profit taxes while the value destroying firms can stay alive.

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File URL: http://129.3.20.41/eps/dev/papers/0207/0207001.pdf
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Publisher Info
Paper provided by EconWPA in its series Development and Comp Systems with number 0207001.

Download reference. The following formats are available: HTML, plain text, BibTeX, RIS (EndNote), ReDIF
Length: 20 pages
Date of creation: 01 Jul 2002
Date of revision:
Handle: RePEc:wpa:wuwpdc:0207001

Note: Type of Document - PDF; prepared on Mac OS X; pages: 20; figures: none. I have not published this but I would like to make it available to others studying the demonetization of Russia since the end of Communist rule.
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Web page: http://129.3.20.41

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Related research
Keywords: barter non-monetary Russia demonetization transition

Find related papers by JEL classification:
O - Economic Development, Technological Change, and Growth
P - Economic Systems

This paper has been announced in the following NEP Reports:

References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
  1. Wendy Carlin & Steven Fries & Mark Schaffer & Paul Seabright, 2000. "Barter and Non-Monetary Transactions in Transition Economies: Evidence from a Cross-Country Survey," CERT Discussion Papers 0004, Centre for Economic Reform and Transformation, Heriot Watt University. [Downloadable!]
  2. Clifford Gaddy & Barry W. Ickes, 1999. "Stability and Disorder: An Evolutionary Analysis of Russia's Virtual Economy," William Davidson Institute Working Papers Series 276, William Davidson Institute at the University of Michigan Stephen M. Ross Business School. [Downloadable!]
  3. Sergei Guriev & Igor Makarov & Mathilde Maurel, 2000. "Debt Overhang and Barter in Russia," William Davidson Institute Working Papers Series 339, William Davidson Institute at the University of Michigan Stephen M. Ross Business School. [Downloadable!]
    Other versions:
  4. Banerjee, Abhijit V & Maskin, Eric S, 1996. "A Walrasian Theory of Money and Barter," The Quarterly Journal of Economics, MIT Press, vol. 111(4), pages 955-1005, November. [Downloadable!] (restricted)
  5. Byung-Yeon Kim & Jukka Pirttilä & Jouko Rautava, 2002. "Money, Barter and Inflation in Russia," Macroeconomics 0209009, EconWPA. [Downloadable!]
    Other versions:
  6. Vlad Ivanenko, 2001. "Testing Russia's Virtual Economy," William Davidson Institute Working Papers Series 428, William Davidson Institute at the University of Michigan Stephen M. Ross Business School. [Downloadable!]
  7. Clifford Gaddy & Barry W. Ickes, 1998. "To Restructure or Not to Restructure: Informal Activities and Enterprise Behavior in Transition," William Davidson Institute Working Papers Series 134, William Davidson Institute at the University of Michigan Stephen M. Ross Business School. [Downloadable!]
  8. Brana, S. & Maurel, M., 1999. "Barter in Russia : Liquidity Shortage Versus Lack of Restructuring," Papers 1999.98, Paris I - Economie Mathematique et Applications.
    Other versions:
  9. Abhijit V. Banerjee & Eric S. Maskin, 1996. "A Walrasian Theory of Money," Harvard Institute of Economic Research Working Papers 1753, Harvard - Institute of Economic Research.
  10. Marin, Dalia & Kaufmann, Daniel & Gorochowskij, Bogdan, 2000. "Barter in Transition Economies: Competing Explanations Confront Ukrainian Data," Discussion Papers in Economics 63, University of Munich, Department of Economics. [Downloadable!]
    Other versions:
  11. Norman, Alfred Lorn, 1987. "A Theory of Monetary Exchange," Review of Economic Studies, Blackwell Publishing, vol. 54(3), pages 499-517, July. [Downloadable!] (restricted)
  12. Ellingsen, Tore, 1998. "Payments in Kind," Working Paper Series in Economics and Finance 244, Stockholm School of Economics, revised 10 Feb 2000. [Downloadable!]
  13. Dalia Marin & Monika Schnitzer, 1999. "Disorganization and Financial Collapse," William Davidson Institute Working Papers Series 285, William Davidson Institute at the University of Michigan Stephen M. Ross Business School. [Downloadable!]
    Other versions:
  14. Daniel Kaufman & Dalia Marin, 1998. "Disorganization, financial squeeze, barter," William Davidson Institute Working Papers Series 165, William Davidson Institute at the University of Michigan Stephen M. Ross Business School. [Downloadable!]
  15. S.I. Boyarchenko & S.Z. Levendorskii, 2000. "Search-Money-and-Barter Models of Financial Stabilization," William Davidson Institute Working Papers Series 332, William Davidson Institute at the University of Michigan Stephen M. Ross Business School. [Downloadable!]
  16. Ritter, Joseph A, 1995. "The Transition from Barter to Fiat Money," American Economic Review, American Economic Association, vol. 85(1), pages 134-49, March. [Downloadable!] (restricted)
  17. Canice Prendergast & Lars A. Stole, 1996. "Non-Monetary Exchange Within Firms and Industry," NBER Working Papers 5765, National Bureau of Economic Research, Inc. [Downloadable!] (restricted)
  18. Kaufmann, Daniel & Kaliberda, Aleksander, 1996. "Integrating the unofficial economy into the dynamics of post-socialist economies : a framework of analysis and evidence," Policy Research Working Paper Series 1691, The World Bank. [Downloadable!]
  19. Susan J. Linz & Gary Krueger, 1998. "Enterprise Restructuring in Russia's Transition Economy: Formal and Informal Mechanisms," William Davidson Institute Working Papers Series 152, William Davidson Institute at the University of Michigan Stephen M. Ross Business School. [Downloadable!]
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