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Determinants of Barter in Russia: An Empirical Analysis
Author:
Mr. Christian Mumssen
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Ms. Irina Dolinskaya
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Mr. Simon Commander null

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Ms. Irina Tytell
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Series:
IMF Working Papers
Volume/Issue:
Volume 2000: Issue 155
Language:
English
Publication Date:
01 Aug 2000
DOI:
https://doi.org/10.5089/9781451857306.001
ISBN:
9781451857306
ISSN:
1018-5941
Pages:
33
Keywords:
WP; liquidity problem; Inter-enterprise offset; trade credit; loss-making firm; barter; tax offsets; non-monetary transactions; arrears; Russia; transition; subsidies; restructuring; networking behavior; firm size; tax arrears; sample firm; illiquid firm; liquidity-constrained firm; enterprise characteristic; incidence of illiquidity; enterprise restructuring; enterprise performance; Liquidity risk; Bank credit; Liquidity; Currencies; Global
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IMF Working Papers describe research in progress by the author(s) and are published to elicit comments and to encourage debate. The views expressed in IMF Working Papers are those of the author(s) and do not necessarily represent the views of the IMF, its Executive Board, or IMF management.
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This paper analyzes the causes and consequences of non-monetary transactions in Russia, drawing on a large enterprise survey. We show that barter and offsets are linked to liquidity problems at the level of the firm and to arrears in particular. We find evidence that the state has channeled implicit subsidies to enterprises in the form of tax and utility offsets. The findings help explain the rise of non-monetary transactions during much of the 1990s. We show that non-monetary transactions inhibit enterprise restructuring. Our findings suggest that a policy solution to the non-cash problem would require the state and public utilities to phase out arrears and offsets.
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Cover IMF Working Papers
IMF Working Papers
ISSN:
1018-5941
Publisher:
International Monetary Fund