“Hard” and “Soft” Budget Constraint

János Kornai

A chapter in 40 Years of Research on Rent Seeking 2, 2008, pp 569-583 from Springer

Abstract: Abstract Hungarian economic literature in recent years has much discussed the behaviour of enterprises and, in this context, the impacts of economic coercion on the enterprise. This study wishes to contribute to the subject. Its main task is to clarify some notions: what should be meant by “budget constraint”, by the “hardness” and “softness” of this constraint.*

Date: 2008
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Persistent link: https://EconPapers.repec.org/RePEc:spr:sprchp:978-3-540-79247-5_33

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DOI: 10.1007/978-3-540-79247-5_33

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