Budget Constraints of Bulgarian Enterprises, 1996-1997
This paper examines the major financial flows between the real sector and other sectors of the economy as well the financial flows within the sector itself. In doing so, we shall answer the question of whether or not the real sector of the economy was functioning under soft budget constraints during the crisis period. Our effort is futher aimed at finding the ways in wich it functioned under soft budget constraints as well as assessing the contribution of the real sector to the aggravation of the 1996 crisis.
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- 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.
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