Discussion paper

DP841 Constraints on Enterprise Liquidity and their Impact on the Monetary Sector in Formerly Centrally Planned Economies

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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Citation

Abel, I and P Siklos (1993), ‘DP841 Constraints on Enterprise Liquidity and their Impact on the Monetary Sector in Formerly Centrally Planned Economies‘, CEPR Discussion Paper No. 841. CEPR Press, Paris & London. https://cepr.org/publications/dp841