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Constraints on Enterprise Liquidity and their Impact on the Monetary Sector in Formerly Centrally Planned Economies

Author

Listed:
  • Abel, István
  • Siklos, Pierre L

Abstract

This paper demonstrates that the monetary policy of the National Bank of Hungary is restrictive and has ignored the liquidity problems raised by the overhang of inter-enterprise liquidity. The implication is that the success of the transition to market is thereby jeopardized.

Suggested Citation

  • Abel, István & Siklos, Pierre L, 1993. "Constraints on Enterprise Liquidity and their Impact on the Monetary Sector in Formerly Centrally Planned Economies," CEPR Discussion Papers 841, C.E.P.R. Discussion Papers.
    • Handle: RePEc:cpr:ceprdp:841
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    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
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    Cited by:

    1. Jérôme Sgard, 1995. "Ajustement des entreprises et distribution du crédit pendant la transition," Post-Print hal-03585825, HAL.
    2. repec:hal:spmain:info:hdl:2441/7104 is not listed on IDEAS
    3. Jérôme Sgard, 1995. "Ajustement des entreprises et distribution du crédit pendant la transition," SciencePo Working papers Main hal-03585825, HAL.
    4. Buch, Claudia M., 1996. "Russian monetary policy: Assessing the track record," Kiel Working Papers 786, Kiel Institute for the World Economy (IfW Kiel).
    5. Jérôme Sgard, 1995. "Recapitalisations des banques et aléa moral en Hongrie et en Pologne," SciencePo Working papers Main hal-03585854, HAL.
    6. G. Alfandari & M.E. Schaffer, 1996. ""Arrears" in the Russian Enterprise Sector," CERT Discussion Papers 9608, Centre for Economic Reform and Transformation, Heriot Watt University.
    7. repec:hal:spmain:info:hdl:2441/8101 is not listed on IDEAS
    8. Jérôme Sgard, 1995. "Recapitalisations des banques et aléa moral en Hongrie et en Pologne," Post-Print hal-03585854, HAL.
    9. Jérôme Sgard, 1995. "Ajustement des entreprises et distribution du crédit pendant la transition : une comparaison de quatre pays d'Europe centrale et orientale," Revue Économique, Programme National Persée, vol. 46(3), pages 787-796.
    10. repec:spo:wpmain:info:hdl:2441/7104 is not listed on IDEAS
    11. Luoana D. Santarossa, 2001. "Arrears as a Sign of Financial Repression in Transition Economies - The Case of Romania," CERT Discussion Papers 0104, Centre for Economic Reform and Transformation, Heriot Watt University.
    12. repec:spo:wpmain:info:hdl:2441/8101 is not listed on IDEAS

    More about this item

    Keywords

    Credit Crunch; East European; Economic Transformation; Trade Credit;
    All these keywords.

    JEL classification:

    • E51 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Money Supply; Credit; Money Multipliers
    • G32 - Financial Economics - - Corporate Finance and Governance - - - Financing Policy; Financial Risk and Risk Management; Capital and Ownership Structure; Value of Firms; Goodwill
    • H32 - Public Economics - - Fiscal Policies and Behavior of Economic Agents - - - Firm
    • P52 - Political Economy and Comparative Economic Systems - - Comparative Economic Systems - - - Comparative Studies of Particular Economies

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