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The Soft Budget Constraint - The Emergence, Persistence and Logic of an Institution by Gun Eriksson Skoog (Paperback, 2010)

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The soft budget constraint - today a popular metaphor - is a paradox. In socialist economies, it implies that the state tends to bail out state-owned firms in financial trouble, in spite of the tremendous performance problems of the entire system that result. When the socialist system broke down, the soft budget constraint was expected to disappear. However, it seems to persist, and its persistence appears to hamper the transition process itself. The Soft Budget Constraint The Emergence, Persistence and Logic of an Institution seeks an answer to this paradox. It aims at increasing our understanding of why the soft budget constraint exists. By investigating state-owned enterprises in Tanzania before, during and after socialism, the prevalence of the soft budget constraint is examined and an explanation of its existence is suggested. The approach is institutional. The soft budget constraint is defined as an informal institution and an invisible-hand explanation of its emergence, persistence and logic is applied. The book shows that the soft budget constraint emerged as an unintended consequence of the establishment of the Tanzania socialist system in the 1970s. A behavioral solution to recurrent systemic problems was offered, and thus the soft budget constraint performed several functions. Once established, its very existence set off a cumulative process of self-generation. Four reinforcement mechanisms that accounted for its maintenance during Tanzanian socialism are identified. Its character as an informal rule helps to explain why it persisted during market-oriented reform, initiated in the mid-1980s. The soft budget constraint was part of the socialist heritage, was adapted to systemic change, and influenced the direction and character of this change.

Product Identifiers

Publisher
Springer-Verlag New York Inc.
ISBN-13
9781441949936
eBay Product ID (ePID)
178138577

Product Key Features

Author
Gun Eriksson Skoog
Publication Name
The Soft Budget Constraint-The Emergence, Persistence and Logic of an Institution
Format
Paperback
Language
English
Subject
Economics, Finance
Publication Year
2010
Type
Textbook
Number of Pages
400 Pages

Dimensions

Item Height
235mm
Item Width
155mm
Item Weight
646g

Additional Product Features

Title_Author
Gun Eriksson Skoog
Country/Region of Manufacture
United States

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The Soft Budget Constraint - The Emergence, Persistence and Logic of an Institution by Gun Eriksson Skoog (Paperback, 2010)

About this product

Product Information

Product Identifiers

Product Key Features

Dimensions

Additional Product Features

Best Selling in Adult Learning & University

Permaculture: A Designer's Manual by Bill Mollison (Hardcover, 1988)

Australian Native Bee Book: Keeping Stingless Bee Hives for Pets, Pollination and Sugarbag Honey by Tim Heard (Paperback, 2015)

The Weed Forager's Handbook: A Guide to Edible and Medicinal Weeds in Australia by Adam Grubb, Annie Raser-Rowland (2012, Paperback)

Empire of the Summer Moon: Quanah Parker and the Rise and Fall of the Comanches, the Most Powerful Indian Tribe in American History by S.C. Gwynne (Paperback, 2011)

Botanical Field Guide by Stefan Mager (Fold-out book or chart, 2021)

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The Hundred Years' War on Palestine: A History of Settler Colonial Conquest and Resistance by Rashid I. Khalidi (Paperback, 2020)

Save on Adult Learning & University

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