The Inter-Enterprise Debt Explosion in the Former Soviet Union: Causes, Consequences, Cures
The reasons for the growth of inter-enterprise debt analyzed. It is suggested that it results mainly from the appearance of normal trade credit in a liberalized economy, and when a monetary squeeze is part of a non-credible stabilization attempt. In the latter case the results can be a sharp fall in output. Non-market and market solutions to this problem are analyzed, and the advantages of the latter over the former are stressed.
|Date of creation:||Apr 1993|
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References listed on IDEAS
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- David Begg & Richard Portes, 1993.
"Enterprise debt and economic transformation (Financial restructuring of the state sector in Central and Eastern Europe),"
The Economics of Transition,
The European Bank for Reconstruction and Development, vol. 1(1), pages 116-117, 01.
- Begg, David & Portes, Richard, 1992. "Enterprise Debt and Economic Transformation: Financial Restructuring of the State Sector in Central and Eastern Europe," CEPR Discussion Papers 695, C.E.P.R. Discussion Papers.
- Eric V. Clifton & Mohsin S. Khan, 1993. "Interenterprise Arrears in Transforming Economies: The Case of Romania," IMF Staff Papers, Palgrave Macmillan, vol. 40(3), pages 680-696, September.
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