The Vanishing Rouble: Barter Networks and Non-Monetary Transactions in Post-Soviet Societies
Cambridge University Press, Nov 30, 2000 - Business & Economics - 383 pages
One of the most remarkable aspects of the transition process in the former Soviet Union has been the extent to which the economy has effectively become demonetized in recent years. At the time of Russia's financial crisis of 1998 it was estimated that up to 70% of industrial output was being exchanged for barter. This book provides an accessible and authoritative analysis of barter in the former Soviet Union, addressing such questions as: * What has brought about this demonetization and why have we not seen the same phenomenon on a widespread scale in central and eastern Europe? * Does the nature of demonetization cast light on what underpins monetary transactions in industrial societies? * What are the consequences for output and growth? * Should the state intervene and how? * Does the network character of many non-monetary transactions have implications for the role and value of social networks in complex modern societies?
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agents arrears bank credit bargaining barter and non-monetary barter chains barter deals barter in Russia barter in sales barter transactions budget Buriat Buriatiia buyer cash cent chapter coincidence of wants collective farm commodity constraints consumer costs coupons currency dacha debt demand demonetisation directors EBRD effect efficient enterprises Evenki Gazprom Goskomstat growth hold-up problem households Ickes implies important increase individuals industrial inflation inputs interaction Katanovki Ledeneva liquidity shock medium of exchange monetary monetised money income Moscow Moscow oblast mutual debit networks non-monetary transactions non-payment offsets organised output paid PAUL SEABRIGHT payment in kind pensioners problem production received regions regression relations relationship restructuring RLMS role roubles Seabright sector sell share of barter shell firm significant social Soviet store of value supplier supply survey Table Tekhcom tion trade credit trading partners transition economies Ukraine variable veksels virtual economy vodka wages workers