CENTRE FOR ECONOMIC PERFORMANCE DISCUSSION PAPER NO.142 April 1993 THE INTER-ENTERPRISE DEBT EXPLOSION IN THE FORMER SOVIET UNION: CAUSES, CONSEQUENCES, CURES
نویسندگان
چکیده
The reasons for the growth of inter-enterprise debt are 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 result can be a sharp fall in output. Nonmarket and market solutions to this problem are analyzed, and the advantages of the latter over the former are stressed. This paper was produced as part of the Centre's Programme on Post-Communist Reform THE INTER-ENTERPRISE DEBT EXPLOSION IN THE FORMER SOVIET UNION: CAUSES, CONSEQUENCES, CURES Jacek Rostowski* Page
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