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Le troc en Russie. Un problème de liquidité ou de solvabilité ?

Author

Listed:
  • Sophie Brana

    (Larefi - Université Montesquieu - Bordeaux 4)

  • Mathilde Maurel

    (ROSES - Réformes et Ouverture des Systèmes Economiques post-Socialistes - UP1 - Université Paris 1 Panthéon-Sorbonne - CNRS - Centre National de la Recherche Scientifique)

Abstract

Barter in Russia can be explained by firms liquidity constraint: it is strongly correlated with financial tightness. However a micro-economic analysis reveals that the rationale behind this liquidity constraint is different according to the firm situa­tion. For firms in a good economic situation, but faced with adverse selection prob­lem and having no access to bank credit, barter acts as a substitute for short term credit. While for indebted firms, barter, in the same way as external finance, is a way of avoiding costly restructuring.

Suggested Citation

  • Sophie Brana & Mathilde Maurel, 2000. "Le troc en Russie. Un problème de liquidité ou de solvabilité ?," Post-Print halshs-00468758, HAL.
    • Handle: RePEc:hal:journl:halshs-00468758
    DOI: 10.2307/3503153
    as

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    Keywords

    Troc; Russie;

    JEL classification:

    • E41 - Macroeconomics and Monetary Economics - - Money and Interest Rates - - - Demand for Money
    • E51 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Money Supply; Credit; Money Multipliers
    • P24 - Political Economy and Comparative Economic Systems - - Socialist and Transition Economies - - - National Income, Product, and Expenditure; Money; Inflation

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