Enterprise Adjustment and the Role of Bank Credit in Russia: Evidence from a 420 Firm's Qualitative Survey
This paper is based on a 1996 industrial survey of 420 Russian firms' actual position, as opposed to their expectations and declared intentions. Factor analysis and ordered Probit techniques are used to test relationships between the various responses. The main conclusions are: 1) profit depends upon real productive performances, and, to a lesser extent, on financial discipline; 2) the demand for credit comes mainly from the worst-off firms or those already indebted; 3) the actual distribution of bank credit is allocated mostly to distressed firms, with poor performance and weak financial position.
(This abstract was borrowed from another version of this item.)
|Date of creation:||Apr 1999|
|Contact details of provider:|| Postal: 113, rue de Grenelle, 75700 Paris SP07|
Phone: 33 01 53 68 55 00
Fax: 33 01 53 68 55 01
Web page: http://www.cepii.fr
More information through EDIRC
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.:
- J. Earle & Saul Estrin, 1996.
"Privatisation versus competition: changing enterprise behavior in Russia,"
LSE Research Online Documents on Economics
20364, London School of Economics and Political Science, LSE Library.
- John S. Earle & Saul Estrin, 1997. "Privatization Versus Competition: Changing Enterprise Behavior in Russia," William Davidson Institute Working Papers Series 70, William Davidson Institute at the University of Michigan.
- J.S. Earle & S. Estrin, 1996. "Privatization Versus Competition: Changing Enterprise Behavior in Russia," Working Papers wp96049, International Institute for Applied Systems Analysis.
- J Earle & S Estrin, 1996. "Privatisation versus Competition: Changing Enterprise Behavior in Russia," CEP Discussion Papers dp0316, Centre for Economic Performance, LSE.
- Berglof, Erik & Roland, Gerard, 1998. "Soft Budget Constraints and Banking in Transition Economies," Journal of Comparative Economics, Elsevier, vol. 26(1), pages 18-40, March.
- G. Alfandari & M.E. Schaffer, 1996. ""Arrears" in the Russian Enterprise Sector," CERT Discussion Papers 9608, Centre for Economic Reform and Transformation, Heriot Watt University.
- Kornai, Janos, 1992. "The Socialist System: The Political Economy of Communism," OUP Catalogue, Oxford University Press, number 9780198287766.
- M. Dewatripont & E. Maskin, 1995. "Credit and Efficiency in Centralized and Decentralized Economies," Review of Economic Studies, Oxford University Press, vol. 62(4), pages 541-555.
- Mathias Dewatripont & Eric Maskin, 1995. "Credit and efficiency in centralized and decentralized economies," ULB Institutional Repository 2013/9603, ULB -- Universite Libre de Bruxelles.
- Mathias Dewatripont & Eric Maskin, 2004. "Credit and efficiency in centralized and decentralized economies," ULB Institutional Repository 2013/9605, ULB -- Universite Libre de Bruxelles.
- Cohen, Daniel & de Boissieu, Christian & de Pontbriand, Gaël, 1995. "Russian Enterprises in Transition," CEPR Discussion Papers 1174, C.E.P.R. Discussion Papers.
- Berglof, Erik & Roland, Gerard, 1997. "Soft budget constraints and credit crunches in financial transition," European Economic Review, Elsevier, vol. 41(3-5), pages 807-817, April.
- Lehmann, Hartmut & Wadsworth, Jonathan & Acquisti, Alessandro, 1999. "Grime and Punishment: Insecurity and Wage Arrears in the Russian Federation," IZA Discussion Papers 65, Institute for the Study of Labor (IZA).
- Joseph E. Stiglitz, 1996. "Whither Socialism?," MIT Press Books, The MIT Press, edition 1, volume 1, number 0262691825, July.
- Qian, Yingyi, 1994. "A Theory of Shortage in Socialist Economies Based on the "Soft Budget Constraint."," American Economic Review, American Economic Association, vol. 84(1), pages 145-156, March.
- Earle, John S & Estrin, Saul, 1997. "After Voucher Privatization: The Structure of Corporate Ownership in Russian Manufacturing Industry," CEPR Discussion Papers 1736, C.E.P.R. Discussion Papers. Full references (including those not matched with items on IDEAS)