The Inter-enterprise Debt Explosion in the Former Soviet Union : Causes , Consequences , Cures

@inproceedings{Rostowski1993TheID,
  title={The Inter-enterprise Debt Explosion in the Former Soviet Union : Causes , Consequences , Cures},
  author={Jacek Rostowski},
  year={1993}
}
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… CONTINUE READING

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