Several theoretical explanations for the presence of soft budget constraints have recently been put forward in the literature. The purpose of this paper is to empirically test these theories on the causes of soft budget constraints. We therefore use a panel data set, consisting of company...

Diese Arbeit hat zum Ziel, marktunterstützende institutionelle Reformen im Transformationsprozess zu analysieren. Als Einstieg in die Thematik wird die Aufnahme mittel- und osteuropäischer Länder in die Europäische Union mit der zurückliegenden Süderweiterung der Europäischen Gemeinschaft...

Since Kornai (1980), the adverse effects of soft budget constraints have been well-documented in the literature. More recently, several theoretical explanations for the presence of soft budget constraints have been put forward. The purpose of this paper is to empirically test these theories on...