{
  "title": "Determinants of Barter in Russia: An Empirical Analysis",
  "publication": "IMF Working Papers, August 1, 2000",
  "sourceUrl": "https://www.imf.org/en/publications/wp/issues/2016/12/30/determinants-of-barter-in-russia-an-empirical-analysis-3790",
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  "summary": "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.",
  "sections": [
    {
      "heading": "Summary",
      "content": "- This paper analyzes the causes and consequences of non-monetary transactions in Russia, drawing on a large enterprise survey.\n- Barter and offsets are linked to liquidity problems at the level of the firm and to arrears in particular.\n- Evidence is found that the state has channeled implicit subsidies to enterprises in the form of tax and utility offsets.\n- The findings help explain the rise of non-monetary transactions during much of the 1990s.\n- Non-monetary transactions inhibit enterprise restructuring.\n- The paper suggests that a policy solution to the non-cash problem would require the state and public utilities to phase out arrears and offsets."
    },
    {
      "heading": "Key Findings and Evidence",
      "content": "- Barter and offsets are associated with firm-level liquidity problems and arrears.\n- State-provided implicit subsidies occurred via tax and utility offsets.\n- Non-monetary transactions contributed to the rise of barter during much of the 1990s.\n- Non-monetary transactions act as an impediment to enterprise restructuring."
    },
    {
      "heading": "Policy Implications and Recommendations",
      "content": "- Phase out arrears and offsets by the state and public utilities as a policy solution to the non-cash problem."
    },
    {
      "heading": "Keywords and Subjects (as listed)",
      "content": "- Subjects: Arrears, Asset and liability management, Bank credit, Currencies, External debt, Financial regulation and supervision, Liquidity, Liquidity risk, Money\n- Keywords: arrears, Bank credit, barter, Currencies, enterprise characteristic, enterprise performance, enterprise restructuring, firm size, Global, illiquid firm, incidence of illiquidity, Inter-enterprise offset, Liquidity, liquidity problem, Liquidity risk, liquidity-constrained firm, loss-making firm, networking behavior, non-monetary transactions, restructuring, Russia, sample firm, subsidies, tax arrears, tax offsets, trade credit, transition, WP\n\n---\n\n Content in this bundle\n\n- Determinants of Barter in Russia: An Empirical Analysis - WP/00/155\n  - Determinants of Barter in Russia: An Empirical Analysis - WP/00/155 (Markdown version){rel=\"alternate\" type=\"text/markdown\"}\n  - Determinants of Barter in Russia: An Empirical Analysis - WP/00/155 (PDF){rel=\"external\" type=\"application/pdf\"}\n\n---\n\nSource: https://www.imf.org/en/publications/wp/issues/2016/12/30/determinants-of-barter-in-russia-an-empirical-analysis-3790"
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    "Authors: Christian Mumssen, Irina Dolinskaya, Simon Commander, Irina Tytell",
    "Published: August 1, 2000",
    "Series: IMF Working Papers",
    "DOI: https://doi.org/10.5089/9781451857306.001",
    "This paper analyzes the causes and consequences of non-monetary transactions in Russia, drawing on a large enterprise survey.",
    "Barter and offsets are linked to liquidity problems at the level of the firm and to arrears in particular.",
    "Evidence is found 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.",
    "Non-monetary transactions inhibit enterprise restructuring.",
    "The paper suggests that a policy solution to the non-cash problem would require the state and public utilities to phase out arrears and offsets.",
    "Barter and offsets are associated with firm-level liquidity problems and arrears.",
    "State-provided implicit subsidies occurred via tax and utility offsets.",
    "Non-monetary transactions contributed to the rise of barter during much of the 1990s.",
    "Non-monetary transactions act as an impediment to enterprise restructuring.",
    "Phase out arrears and offsets by the state and public utilities as a policy solution to the non-cash problem.",
    "Subjects: Arrears, Asset and liability management, Bank credit, Currencies, External debt, Financial regulation and supervision, Liquidity, Liquidity risk, Money",
    "Keywords: arrears, Bank credit, barter, Currencies, enterprise characteristic, enterprise performance, enterprise restructuring, firm size, Global, illiquid firm, incidence of illiquidity, Inter-enterprise offset, Liquidity, liquidity problem, Liquidity risk, liquidity-constrained firm, loss-making firm, networking behavior, non-monetary transactions, restructuring, Russia, sample firm, subsidies, tax arrears, tax offsets, trade credit, transition, WP",
    "**Determinants of Barter in Russia: An Empirical Analysis - WP/00/155**"
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