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

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  • Richard B. Goud Jr.

    (Reed College undergraduate student)

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://128.118.178.162/eps/dev/papers/0207/0207001.pdf
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Bibliographic Info

Paper provided by EconWPA in its series Development and Comp Systems with number 0207001.

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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://128.118.178.162

Related research

Keywords: barter; non-monetary; Russia; demonetization; transition;

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References

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  1. Vlad Ivanenko, 2001. "Testing Russia's Virtual Economy," William Davidson Institute Working Papers Series 428, William Davidson Institute at the University of Michigan.
  2. Dalia Marin & Monika Schnitzer, 1999. "Disorganization and Financial Collapse," William Davidson Institute Working Papers Series 285, William Davidson Institute at the University of Michigan.
  3. Norman, Alfred Lorn, 1987. "A Theory of Monetary Exchange," Review of Economic Studies, Wiley Blackwell, vol. 54(3), pages 499-517, July.
  4. Daniel Kaufman & Dalia Marin, 1998. "Disorganization, financial squeeze, barter," William Davidson Institute Working Papers Series 165, William Davidson Institute at the University of Michigan.
  5. Christian Mumssen & Irina Dolinskaya & Simon Commander & Irina Tytell, 2000. "Determinants of Barter in Russia," IMF Working Papers 00/155, International Monetary Fund.
  6. 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.
  7. Susan J Linz & Gary Krueger, 1998. "Enterprise Restructuring in Russia's Transition Economy: Formal and Informal Mechanisms," Comparative Economic Studies, Palgrave Macmillan, vol. 40(2), pages 5-52, July.
  8. 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.
  9. Brana, Sophie & Maurel, Mathilde, 1999. "Barter in Russia: Liquidity Shortage Versus Lack of Restructuring," CEPR Discussion Papers 2258, C.E.P.R. Discussion Papers.
  10. Guriev, Sergei & Makarov, Igor & Maurel, Mathilde, 2001. "Debt Overhang and Barter in Russia," CEPR Discussion Papers 2686, C.E.P.R. Discussion Papers.
  11. 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.
  12. 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.
  13. Andrei Yakovlev, 2000. "Barter in the Russian Economy: Classifications and Implications (Evidence from Case Study Analyses)," Post-Communist Economies, Taylor & Francis Journals, vol. 12(3), pages 279-291.
  14. Ritter, Joseph A, 1995. "The Transition from Barter to Fiat Money," American Economic Review, American Economic Association, vol. 85(1), pages 134-49, March.
  15. Canice Prendergast & Lars A. Stole, 1996. "Non-Monetary Exchange Within Firms and Industry," NBER Working Papers 5765, National Bureau of Economic Research, Inc.
  16. 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.
  17. 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.
  18. 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.
  19. 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.
  20. 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.
  21. 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.
  22. Ellingsen, Tore, 1998. "Payments in Kind," Working Paper Series in Economics and Finance 244, Stockholm School of Economics, revised 10 Feb 2000.
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