Can EU conditionality remedy soft budget constraints in transition countries?
نویسندگان
چکیده
منابع مشابه
Do firms in transition have soft budget constraints ?
This paper first examines various definitions of Kornai’s soft budget constraint (SBC) and the difficulties involved in interpreting data on losses, subsidies and financing, and then considers selective evidence from transition economies. Stocks of overdue trade credit are no larger than in Western economies and firms in transition economies (TEs) typically impose hard budget constraints on eac...
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I put forward a new theoretical framework to analyze the relationship between soft budget constraint syndrome and the economic performances of firms. It differs from the existing theoretical framework, à la Dewatripont and Maskin (1995), in the soft budget constraint literature. In this paper, soft budget constraint syndrome arises when firms that are expected to lose money are financed. The pa...
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ژورنال
عنوان ژورنال: Journal of Comparative Economics
سال: 2005
ISSN: 0147-5967
DOI: 10.1016/j.jce.2005.03.002