March 26, 2002
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New Data Confirms the Basic Relationships in the Russian Economy: Ten Years of the New Economic System Revisited

by Michael S. Bernstam and Alvin Rabushka

FIGURE 4. THE ENGINE OF ENTERPRISE NETWORK SOCIALISM

Notes:

1. The red arrows emphasize the relationship which became empirically dominant in 1999-2001.
2. In the short run, in the flow of funds sense, monetization dissipates arrears (hence, the minus sign).
   In the long run, as a matter of incentives, monetization stimulates arrears (hence, the plus sign).

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