Enterprise Arrears in Russia: Causes and Policy Options
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...
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Format: | Elektronisch E-Book |
Sprache: | English |
Veröffentlicht: |
Washington, D.C
International Monetary Fund
1993
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Schriftenreihe: | IMF Working Papers
Working Paper No. 93/61 |
Online-Zugang: | UBW01 UEI01 LCO01 SBR01 UER01 SBG01 UBG01 FAN01 UBT01 FKE01 UBY01 UBA01 FLA01 UBM01 UPA01 UBR01 FHA01 FNU01 BSB01 TUM01 Volltext |
Zusammenfassung: | 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 |
Beschreibung: | 1 Online-Ressource (30 p) |
ISBN: | 1451848099 9781451848090 |
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spelling | Bigman, David Verfasser aut Enterprise Arrears in Russia Causes and Policy Options Bigman, David Washington, D.C International Monetary Fund 1993 1 Online-Ressource (30 p) txt rdacontent c rdamedia cr rdacarrier IMF Working Papers Working Paper No. 93/61 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 Online-Ausg Leite, Sérgio Pereira Sonstige oth http://elibrary.imf.org/view/IMF001/02058-9781451848090/02058-9781451848090/02058-9781451848090.xml Verlag URL des Erstveröffentlichers Volltext |
spellingShingle | Bigman, David Enterprise Arrears in Russia Causes and Policy Options |
title | Enterprise Arrears in Russia Causes and Policy Options |
title_auth | Enterprise Arrears in Russia Causes and Policy Options |
title_exact_search | Enterprise Arrears in Russia Causes and Policy Options |
title_exact_search_txtP | Enterprise Arrears in Russia Causes and Policy Options |
title_full | Enterprise Arrears in Russia Causes and Policy Options Bigman, David |
title_fullStr | Enterprise Arrears in Russia Causes and Policy Options Bigman, David |
title_full_unstemmed | Enterprise Arrears in Russia Causes and Policy Options Bigman, David |
title_short | Enterprise Arrears in Russia |
title_sort | enterprise arrears in russia causes and policy options |
title_sub | Causes and Policy Options |
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