A model of Russia's "virtual economy"

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Title: A model of Russia's "virtual economy"
Author: Ericson, R.E. ; Ickes, B.W.
Organization: Bank of Finland
Department / Unit: Institute for Economies in Transition (BOFIT)
Series: BOFIT Discussion Papers
Series number: 10/2000
Year of publication: 2000
Publication date: 19.7.2000
Published in: Published in Review of Economic Design vol 6, issue 2 (2001), pp. 185-214
Pages: 40 s.
Keywords: Venäjä; talousuudistus; mallit; teollisuus; Bofit-kokoelma
Abstract: The Russian Economy has evolved into a hybrid form, a partially monetized quasi-market system that has been called the virtual economy.In the virtual economy, barter and non-monetary transactions play a key role in transferring value from productive activities to the loss-making sectors of the economy.We show how this transfer takes place, and how it can be consistent with the incentives of economic agents.We analyze a simple partial-equilibrium. model of the virtual economy, and show how it might prove an obstacle to industrial restructuring and hence marketizing transition.
Note: Ilmestynyt myös: Review of Economic Design 6 ; 2 (2001).
Rights: https://helda.helsinki.fi/bof/copyright


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