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Barter, credit and welfare

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  • José Noguera
  • Susan J. Linz

Abstract

This paper develops a model to investigate the welfare implications of barter in Russia and other transition economies during the 1990s. We argue that barter is a welfare‐improving phenomenon that acts as a defence mechanism against monetary instability. When firms react to tighter credit markets by switching to barter, the risk they face diminishes, allowing for a higher level of production.

Suggested Citation

  • José Noguera & Susan J. Linz, 2006. "Barter, credit and welfare," The Economics of Transition, The European Bank for Reconstruction and Development, vol. 14(4), pages 719-745, October.
    • Handle: RePEc:bla:etrans:v:14:y:2006:i:4:p:719-745
    DOI: 10.1111/j.1468-0351.2006.00270.x
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    References listed on IDEAS

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    1. Brana, S. & Maurel, M., 1999. "Barter in Russia : Liquidity Shortage Versus Lack of Restructuring," Papiers d'Economie Mathématique et Applications 1999.98, Université Panthéon-Sorbonne (Paris 1).
    2. Mario Gara, 2001. "The Emergence of Non-monetary Means of Payment in the Russian Economy," Post-Communist Economies, Taylor & Francis Journals, vol. 13(1), pages 5-39.
    3. Varese, Federico, 2001. "The Russian Mafia: Private Protection in a New Market Economy," OUP Catalogue, Oxford University Press, number 9780198297369.
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    Cited by:

    1. Yangyang Huang & Zhenyang Pi & Weiguo Fang, 2021. "Trade Credit with Barter in a Capital-Constrained Supply Chain," Sustainability, MDPI, vol. 13(20), pages 1-15, October.

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