A theory of shortage in socialist economies based on the `soft budget constraint'

Credit Rationing in Markets with Imperfect Information.

1981 • 12,689 citations

Equilibrium Unemployment as a Worker Discipline Device

1986 • 4,779 citations

Agency Costs, Net Worth, and Business Fluctuations.

1989 • 4,683 citations

The Socialist System

1992 • 1,409 citations

Economics of Shortage.

1982 • 1,130 citations

Credit and Efficiency in Centralized and Decentralized Economies

1995 • 1,101 citations

Growing Out of the Plan: Chinese Economic Reform 1978-1993.

1996 • 863 citations

Creating a Market Economy in Eastern Europe: The Case of Poland

1990 • 809 citations

The order of economic liberalization: financial control in the transition to a market economy

1992 • 759 citations

Is the Price System or Rationing More Effective in Getting a Commodity to Those Who Need it Most?

1977 • 148 citations

Budget constraints, bailouts, and the firm under central planning

1988 • 117 citations

The credible-commitment problem in the center-enterprise relationship

1989 • 114 citations

Contradication in China's financial reforms: the relationship between blanks and enterprises

1989 • 31 citations