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Discussion Paper Details

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Title: Constraints on Enterprise Liquidity and their Impact on the Monetary Sector in Formerly Centrally Planned Economies

Author(s): István Abel and Pierre L Siklos

Publication Date: December 1993

Keyword(s): Credit Crunch, East European, Economic Transformation and Trade Credit

Programme Area(s): Applied Macroeconomics

Abstract: This paper demonstrates that the monetary policy of the National Bank of Hungary is restrictive and has ignored the liquidity problems raised by the overhang of inter-enterprise liquidity. The implication is that the success of the transition to market is thereby jeopardized.

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Bibliographic Reference

Abel, I and Siklos, P. 1993. 'Constraints on Enterprise Liquidity and their Impact on the Monetary Sector in Formerly Centrally Planned Economies'. London, Centre for Economic Policy Research. https://cepr.org/active/publications/discussion_papers/dp.php?dpno=841