DP841 Constraints on Enterprise Liquidity and their Impact on the Monetary Sector in Formerly Centrally Planned Economies
|Author(s):||István Abel, Pierre L Siklos|
|Publication Date:||December 1993|
|Keyword(s):||Credit Crunch, East European, Economic Transformation, Trade Credit|
|JEL(s):||E51, G32, H32, P52|
|Programme Areas:||Applied Macroeconomics|
|Link to this Page:||cepr.org/active/publications/discussion_papers/dp.php?dpno=841|
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.