Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/212477 
Year of Publication: 
2000
Series/Report no.: 
BOFIT Discussion Papers No. 10/2000
Publisher: 
Bank of Finland, Institute for Economies in Transition (BOFIT), Helsinki
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.
Persistent Identifier of the first edition: 
ISBN: 
951-686-926-2
Document Type: 
Working Paper

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