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Understanding the Soft Budget Constraint

(The Ending) The phenomenon of the soft budget constraint (SBC) in a competitive environment is analyzed in the second part of the article. Its consequences for banks and the role played in developing financial crises are considered. Political intervention in firms is studied. The conclusion is made that the SBC syndrome can arise in any economic system.
Year of publication:
2004-12
Authors: KORNAI, J. ; MASKIN, E. ; G. ROLAND.
Published in:
VOPROSY ECONOMIKI. - N.P. Redaktsiya zhurnala "Voprosy Economiki". - Vol. 12.2004
Publisher: N.P. Redaktsiya zhurnala "Voprosy Economiki"
Type of publication: Article
Source:
Persistent link: https://www.econbiz.de/10005681453
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