A theory of shortage in socialist economies based on the “soft budget constraint”.

Given the costs of resource misallocation when prices are set too low, economists have wondered why governments do not raise prices to eliminate shortages altogether. A mathematical model suggests that the “soft budget constraint” common to state-owned firms in socialist economies is the reason tha...

Descripción completa

Detalles Bibliográficos

Publicado en:	American Economic Review Vol. 84; pp. 145 - 157
Autor principal:	Qian, Yingyi
Formato:	Artículo
Publicado:	American Economic Association March 1994
Materias:	Mathematical models Scarcity Financing of government business enterprises Central economic planning Resource allocation > Mathematical models Communist countries Economic policy
Acceso en línea:	Ver este registro en EBSCOhost