PETRI, MARTIN; TAUBE, GÜNTHER - In: Emerging Markets Finance and Trade 39 (2003) 1, pp. 24-42
sector quasi-fiscal activities, especially low energy prices and the toleration of payment arrears, to provide large implicit … international oil prices. We found that energy sector payment arrears have triggered tax and other payment arrears by energy … companies, and helped to perpetuate a vicious circle involving arrears, offsets, netting operations, and noncash payments …