Constraints on Enterprise Liquidity and their Impact on the Monetary Sector in Formerly Centrally Planned Economies

Istvan Abel and Pierre Siklos

No 841, CEPR Discussion Papers from C.E.P.R. Discussion Papers

Abstract: This paper demonstrates that the monetary policy of the National Bank of Hungary is restrictive and has ignored the liquidity problems raised by the overhang of inter-enterprise liquidity. The implication is that the success of the transition to market is thereby jeopardized.

Keywords: Credit Crunch; East European; Economic Transformation; Trade Credit (search for similar items in EconPapers)
JEL-codes: E51 G32 H32 P52 (search for similar items in EconPapers)
Date: 1993-12
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Citations: View citations in EconPapers (10)

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