How Soft is the Budget Constraint for Yugoslav Firms?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 |
Common terms and phrases
accounting actual allowed amount analysis Appendix assets average Bank BOALS budget constraint calculated capital channels of redistribution Claims common contributions costs cover credits defined determined differences direct distribution Eastern European economies economies effects energy enterprises example findings firm's firms force formal subsidies Formal taxes fund gains on money heavy housing important income per worker industries inflation intercept interest July June LDRs lending less less-developed regions Liabilities loans long-term losses losses on money manufacturing massive material needs negative net subsidies norm obligations overall payments percent personal earnings Policy Research positive processing production profits quasisubsidies quasitaxes recalculated received redistribution flows rehabilitation credits reserve residual Resource pooling resources earmarked rules sector Short-term significant SMCIS social socialist economies solidarity fund studies Table taxation taxes and subsidies transfers variables wage WOAL Yugoslav Yugoslav firms Yugoslavia
Bibliographic information
| Title | How Soft is the Budget Constraint for Yugoslav Firms? Volume 937 of Policy research working papers Volume 937 of Policy research working papers: Socialist economies reform Volume 937 of Pre working paper series |
| Authors | Evan Kraft, Milan Vodopivec |
| Publisher | Country Economics Department, World Bank, 1992 |
| Original from | the University of California |
| Digitized | Jun 23, 2008 |
| Length | 24 pages |
| Export Citation | BiBTeX EndNote RefMan |