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Firms engage in NME in order to discount nominal prices which remain well above market-clearing levels. The mechanisms which prevent a convergence between formal and actual transaction values include asset valuation rules, depreciation schedules, tax regulations and an inadequate bankruptcy mechanism.
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Firms engage in NME in order to discount nominal prices which remain well above market-clearing levels. The mechanisms which prevent a convergence between formal and actual transaction values include asset valuation rules, depreciation schedules, tax regulations and an inadequate bankruptcy mechanism.
BookThe Countries of the Former Soviet Union at the Turn of the Twenty-First Century
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Edition 1st Edition
First Published 2004
Imprint Routledge
Pages 22
eBook ISBN 9780429234668