The paper describes the technological process presented as a chain of tasks that natural gas companies in Canada perform to move natural gas products from the geological formation to the final consumer. Investigating the norms the firms use to establish cooperation with clients and suppliers, it...

Was taxation so heavy in the Russian transition that firms could not stay afloat?” is the question that this paper aims to answer. It details the fiscal structure and uses data from a number of sources to calculate statutory tax rates faced by businesses in 1995. The results show that...

The unusual rise and fall of nonmonetary trade (NMT) in the Russian transition has been a subject of heated debates. Yet, this phenomenon is often viewed as a peculiarity that one cannot explain by economic considerations alone. In this article, we show that the resort to NMT was a rational,...

This article places non-monetary trade (NMT), the persistent growth of which in Russia in 1992-98 economists have struggled to explain, within the framework of the credit channel of monetary policy. It shows that producers resorted to NMT responding to increases in the cost and the...

The appearance of significant non-monetary trade in the Russian transition of 1992-98 has been differently interpreted by analysts and observers. Some have seen barter as a symbol of passive resistance to reforms while others have blamed reformist policies for its development. We argue that...

The Russian experience with non-monetary payments (NMPs) offers an unusual opportunity to look into the transaction properties of money. Using a search model of money and unique datasets of financial data disclosed by Russian companies, this paper evaluates how important monetary payments were...

The paper tests the proposition that money generates value in trade. It examines the data for 5,746 Russian companies for 1997 and finds that money accounts for 24.6 percent of their value-added. The functional form of the return on money in trade is determined to be positive and marginally...