Monetary Policy and Inter-Enterprise Arrears in Russia

Mikhail Slobodkine
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Mikhail Slobodkine: Boston University

No 49, East European Series from Institute for Advanced Studies

Abstract: The role and influence of inter-enterprise arrears on Russian economy and implications for the monetary policy are considered. A brief overview of major trends in inter-enterprise arrears development in Russia is given. The reciprocal nature of arrears and strong correlation between the overdue receivables and the overdue payables of the enterprise are emphasized. Money demand interpretation of arrears accumulation and expectations based arrears-inflation mechanism are introduced.

Keywords: Monetary Policy; Credit Markets; Economies in Transition (search for similar items in EconPapers)
JEL-codes: E52 P20 (search for similar items in EconPapers)
Pages: 37 pages
Date: 1997-11
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