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This paper first examines various definitions of Kornai's soft budget constraint (SBC) and the difficulties involved in interpreting data on losses, subsidies and financing, and then considers selective evidence from transition economies. Stocks of overdue trade credit are no larger than in...
Persistent link: https://www.econbiz.de/10014067071
This paper first examines various definitions of Kornai?s soft budget constraint (SBC) and the difficulties involved in interpreting data on losses, subsidies and financing, and then considers selective evidence from transition economies. Stocks of overdue trade credit are no larger than in...
Persistent link: https://www.econbiz.de/10014067072
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