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| Author: | Marin, D. Schnitzer, M. |
| Title: | The economic institution of international barter |
| Journal: | Economic Journal
2002 : APR, VOL. 112, p. 293-316 |
| Index terms: | Bartering Foreign debts Eastern Europe Russia |
| Language: | eng |
| Abstract: | The paper examines how barter can help highly indebted countries to finance imports if they cannot use standard credit arrangements. The authors examine argue that payment in goods is easier to enforce than payment in money.However, debtors may pay with inferior quality products. The authors rank goods with respect to these incentive properties and derive the economic institution of commodity money which explains the trade pattern in barter. |
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