Soft Budget Constraint Theories: From Centralization to the Market

Eric Maskin and Chenggang Xu

Chapter 2 in The Economics of Transition, 2007, pp 12-36 from Palgrave Macmillan

Abstract: Abstract This chapter has two purposes. One is to examine the effect of soft budget constraints (SBC) on economies in transition from centralization to capitalism. The other is to survey our understanding of SBC more generally. Of course, this latter aim is also pertinent to the former.

Date: 2007
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-1-349-74092-5_2

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DOI: 10.1057/978-1-349-74092-5_2

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