01781cas a2200253 a 4500 AALejournalIMF004188 230101c9999 xx r poo 0 0eng d 5.00 USD 9781451848090 1018-5941 BD-DhAAL BD-DhAAL Bigman, David. Enterprise Arrears in Russia : Causes and Policy Options / David Bigman, Sergio Leite. Washington, D.C. : International Monetary Fund, 1993. 1 online resource (30 pages) IMF Working Papers <strong>Off-Campus Access:</strong> No User ID or Password Required <strong>On-Campus Access:</strong> No User ID or Password Required Electronic access restricted to authorized BRAC University faculty, staff and students This paper examines the causes of the large buildup of enterprise arrears in Russia during 1992, and evaluates policy options to deal with them. Noting the experience of. Eastern European countries, the paper emphasizes that the settlement of arrears through wholesale extension of credit would only achieve a temporary reduction of arrears while inviting moral hazard problems and creating expectations of future bailouts. Instead, emphasis should be placed on measures that instill financial discipline and promote necessary structural changes. These measures should be supported by adequate legislation, effective supervision, and credible sanctions against defaulting enterprises and their managers. Mode of access: Internet Leite, Sergio. IMF Working Papers; Working Paper ; No. 1993/061 Full text available on IMF http://elibrary.imf.org/view/journals/001/1993/061/001.1993.issue-061-en.xml IMF e-Library