Creating and sharing subsidiary knowledge within multinational corporations
In: Doctoral thesis 97
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In: Doctoral thesis 97
In: Acta Universitatis Wratislaviensis 2445
In: CESifo working paper series 860
In: Fiscal policy, macroeconomics and growth
This paper explains both the onset of the financial crisis in 1998 and the striking economic recovery afterwards in Russia and other Former Soviet Union (FSU) economies. Before the crisis banks do not lend to the real sector of the economy and firms use non-bank finance, including trade credits and barter trade, to finance production. The banking failure arises due to the coexistence of adverse selection in a lemons credit market jointly with high government borrowing. The collapse of the treasury bills market in the financial crisis of August 1998 triggers a change in banks lending behavior. A strong economic recovery follows which provides initial conditions for banking development.
In: Nordeuropäische Beiträge aus den Human- und Gesellschaftswissenschaften, 23
World Affairs Online
In: Historiallisia tutkimuksia 215
In: NBER working paper series 9546
In: Policy research working paper 2943
In: Policy research working paper 2944
In: Policy research working paper 2949
In: BIS working paper 130