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THE SOFT BUDGET CONSTRAINTS AS ECONOMIC INSTITUTION
Osipov Andrey Vladimirovich
Kazan Institute (branch) of Plekhanov Russian University of Economics
Candidate of Economic Sciences, Associate Professor, Department of Economics
Kazan Institute (branch) of Plekhanov Russian University of Economics
Candidate of Economic Sciences, Associate Professor, Department of Economics
Abstract
The paper discusses various interpretations of the phenomenon of soft budget constraints according to the institutional approach. Defines the causes and consequences of breaches of commitment in the socialist, transition and market economies. Gives an overview of basic theoretical models that explain the emergence and spread of the syndrome of soft budget constraints.
Keywords: breach of contract, centralization, commitment, decentralization, financing, institution, soft budget constraints, subsidization
Category: 08.00.00 Economics
Article reference:
The Soft Budget Constraints as Economic Institution // Modern scientific researches and innovations. 2015. № 6. P. 3 [Electronic journal]. URL: https://web.snauka.ru/en/issues/2015/06/54546
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