In this Paper we study, both theoretically and empirically, the relationship between barter and the indebtedness of Russian firms. We build a model in which a firm uses barter to protect its working capital against outside creditors even when barter involves high transaction costs. The main...

In this Paper we study, both theoretically and empirically, the relationship between barter and the indebtedness of Russian firms. We build a model in which a firm uses barter to protect its working capital against outside creditors even when barter involves high transaction costs. The main...

This chapter examines the deep relationship existent between socio-economic transformation, welfare state restructuring and happiness, in the specific context of the Russian transition, highlighting not only the psychological repercussions of the economic, political and social change that has...

This paper has four main objectives: (1) to monitor the rise of poverty and income inequality during the first decade of Russian transition; (2 to analyze the performance of the welfare state in reducing poverty and income inequality; (3) to identify the most vulnerable groups of transition; and...

Soft budget constraints (SBCs) are a persistent feature of transition economies and have been blamed for i.a. a lack of fiscal consolidation and sluggish growth. EU eastward enlargement has - among other things - been conditioned on tackling SBCs. This paper analyzes such outside conditionality...