Inter-Enterprise Arrears in a Post-Command Economy : Thoughts From a Romanian Perspective /
The paper considers that strain is the main source of inter-enterprise arrears in post-command economies. Strain can be linked with the structure of the economy and the size of resource misallocation. Inter-enterprise arrears 'soften' markets and operate as a self-protecting device against...
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| Format: | Revista |
| Idioma: | English |
| Publicat: |
Washington, D.C. :
International Monetary Fund,
1994.
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| Col·lecció: | IMF Working Papers; Working Paper ;
No. 1994/054 |
| Accés en línia: | Full text available on IMF |
| Sumari: | The paper considers that strain is the main source of inter-enterprise arrears in post-command economies. Strain can be linked with the structure of the economy and the size of resource misallocation. Inter-enterprise arrears 'soften' markets and operate as a self-protecting device against the pressure for change. As temporary quasi-inside money, arrears fuel inflation. A paradox of policy credibility in undertaking structural adjustment is emphasized. Rising exports can be a possible side effect of arrears and a constraining factor: the size of the economy is seen as affecting the relationship between arrears and exports. An operational framework for containing arrears would Include: 'breaking up' structure; Imposing a disciplining 'straitjacket' on structure; industrial policy ('picking losers among losers') and targeted external assistance. Containing arrears can not be a one shot policy-drive; here one deals with a process that will overlap in time with the evolving environment. |
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| Descripció de l’ítem: | <strong>Off-Campus Access:</strong> No User ID or Password Required <strong>On-Campus Access:</strong> No User ID or Password Required |
| Descripció física: | 1 online resource (30 pages) |
| Format: | Mode of access: Internet |
| ISSN: | 1018-5941 |
| Accés: | Electronic access restricted to authorized BRAC University faculty, staff and students |