How Soft is the Budget Constraint for Yugoslav Firms?

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Country Economics Department, World Bank, 1992 - Income distribution - 24 pages
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Despite the virtual absence of direct government subsidies to firms, and the existence of open unemployment, Yugoslav firms were subjected to massive, pervasive redistribution through a soft budget constraint. Yugoslavia's channels redistribution differed significantly from those in other socialist economies, but the redistribution shared a common driving force - the pursuite of job and wage security.

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Contents

CHANNELS OF REDISTRIBUTION
3
DETERMINANTS OF REDISTRIBUTION
14
Description of Data and Variables
22

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