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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. Clifford Gaddy & Barry W. Ickes, 1999. "Stability and Disorder: An Evolutionary Analysis of Russia's Virtual Economy," William Davidson Institute Working Papers Series, William Davidson Institute at the University of Michigan 276, William Davidson Institute at the University of Michigan.
  2. 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.
  3. Sergei Guriev & Igor Makarov & Mathilde Maurel, 2000. "Debt Overhang and Barter in Russia," William Davidson Institute Working Papers Series, William Davidson Institute at the University of Michigan 339, William Davidson Institute at the University of Michigan.
  4. Norman, Alfred Lorn, 1987. "A Theory of Monetary Exchange," Review of Economic Studies, Wiley Blackwell, Wiley Blackwell, vol. 54(3), pages 499-517, July.
  5. Marin, Dalia & Kaufmann, Daniel & Gorochowskij, Bogdan, 2000. "Barter in Transition Economies: Competing Explanations Confront Ukrainian Data," Discussion Papers in Economics, University of Munich, Department of Economics 63, University of Munich, Department of Economics.
  6. Ritter, Joseph A, 1995. "The Transition from Barter to Fiat Money," American Economic Review, American Economic Association, American Economic Association, vol. 85(1), pages 134-49, March.
  7. Kim, Byung-Yeon & Pirttilä, Jukka & Rautava, Jouko, 2001. "Money, Barter and Inflation in Russia," BOFIT Discussion Papers, Bank of Finland, Institute for Economies in Transition 15/2001, Bank of Finland, Institute for Economies in Transition.
  8. Marin, Dalia & Schnitzer, Monika, 1999. "Disorganization and Financial Collapse," CEPR Discussion Papers, C.E.P.R. Discussion Papers 2245, C.E.P.R. Discussion Papers.
  9. Vlad Ivanenko, 2001. "Testing Russia's Virtual Economy," William Davidson Institute Working Papers Series, William Davidson Institute at the University of Michigan 428, William Davidson Institute at the University of Michigan.
  10. Ellingsen, Tore, 1998. "Payments in Kind," Working Paper Series in Economics and Finance, Stockholm School of Economics 244, Stockholm School of Economics, revised 10 Feb 2000.
  11. Banerjee, Abhijit V & Maskin, Eric S, 1996. "A Walrasian Theory of Money and Barter," The Quarterly Journal of Economics, MIT Press, MIT Press, vol. 111(4), pages 955-1005, November.
  12. Andrei Yakovlev, 2000. "Barter in the Russian Economy: Classifications and Implications (Evidence from Case Study Analyses)," Post-Communist Economies, Taylor & Francis Journals, Taylor & Francis Journals, vol. 12(3), pages 279-291.
  13. Wendy Carlin & Steven Fries & Mark Schaffer & Paul Seabright, 2000. "Barter and non-monetary transactions in transition economies: Evidence from a cross-country survey," Working Papers, European Bank for Reconstruction and Development, Office of the Chief Economist 50, European Bank for Reconstruction and Development, Office of the Chief Economist.
  14. Brana, S. & Maurel, M., 1999. "Barter in Russia : Liquidity Shortage Versus Lack of Restructuring," Papiers d'Economie Mathématique et Applications, Université Panthéon-Sorbonne (Paris 1) 1999.98, Université Panthéon-Sorbonne (Paris 1).
  15. S.I. Boyarchenko & S.Z. Levendorskii, 2000. "Search-Money-and-Barter Models of Financial Stabilization," William Davidson Institute Working Papers Series, William Davidson Institute at the University of Michigan 332, William Davidson Institute at the University of Michigan.
  16. Daniel Kaufman & Dalia Marin, 1998. "Disorganization, financial squeeze, barter," William Davidson Institute Working Papers Series, William Davidson Institute at the University of Michigan 165, William Davidson Institute at the University of Michigan.
  17. 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.
  18. 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, William Davidson Institute at the University of Michigan 134, William Davidson Institute at the University of Michigan.
  19. Abhijit V. Banerjee & Eric S. Maskin, 1996. "A Walrasian Theory of Money," Harvard Institute of Economic Research Working Papers, Harvard - Institute of Economic Research 1753, Harvard - Institute of Economic Research.
  20. Christian Mumssen & Irina Dolinskaya & Simon Commander & Irina Tytell, 2000. "Determinants of Barter in Russia," IMF Working Papers, International Monetary Fund 00/155, International Monetary Fund.
  21. Canice Prendergast & Lars A. Stole, 1996. "Non-Monetary Exchange Within Firms and Industry," NBER Working Papers 5765, National Bureau of Economic Research, Inc.
  22. Jan Amrit Poser, 1998. "Monetary disruptions and the emergence of barter in FSU economies," Post-Communist Economies, Taylor & Francis Journals, Taylor & Francis Journals, vol. 10(2), pages 157-177.
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