Barter in Russia: Liquidity Shortage Versus Lack of Restructuring

Sophie Brana and Mathilde Maurel

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Abstract: Barter in Russia can be explained by firms liquidity constraint: it is strongly correlated with financial tightness. However a micro-economic analysis reveals that the rationale behind this liquidity constraint is different according to the firm situation. For firms in a good economic situation, but faced with adverse selection problem and having no access to bank credit, barter acts a substitute for short term credit. While for indebted firms, barter, in the same ways as external finance, is a way of avoiding costly restructuring.

Keywords: Barter; non-monetary transactions; virtual economy; Russia; transition; économie virtuelle; Russie; Troc; échanges non marchands (search for similar items in EconPapers)
Date: 1999-06
Note: View the original document on HAL open archive server: https://shs.hal.science/halshs-03707293
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Citations: View citations in EconPapers (10)

Published in 1999

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Related works:
Working Paper: Barter in Russia: Liquidity Shortage Versus Lack of Restructuring (1999)
Working Paper: Barter in Russia: Liquidity Shortage Versus Lack of Restructuring (1999)
Working Paper: Barter in Russia: Liquidity Shortage Versus Lack of Restructuring (1999)
Working Paper: Barter in Russia: Liquidity Shortage versus Lack of Restructuring (1999)
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