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.
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The Economics of Transition,
The European Bank for Reconstruction and Development, vol. 1(1), pages 116-117, 01.
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- J. Rostowski, 1993. "Creating stable monetary systems in post-communist economies," LSE Research Online Documents on Economics 20970, London School of Economics and Political Science, LSE Library.
- 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.
- J Williamson, 1992. "The Eastern Transition to a Market Economy: A Global Perspective," CEP Occasional Papers 02, Centre for Economic Performance, LSE. Full references (including those not matched with items on IDEAS)