Construct · 1 fields · 1 citations

soft budget constraint: a standalone construct

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Economics

an enterprise's expectation that losses will be covered by the state or a creditor, weakening its incentive to control costs.

In economics, soft budget constraint refers to an enterprise's expectation that losses will be covered by the state or a creditor, weakening its incentive to control costs. This meaning comes from Kornai (1986) in Kyklos.[1]

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Nearby constructs

control4 fields · 5 citationsjingle · one word, four constructs expectation4 fields · 4 citationsjingle · one word, four constructs incentive4 fields · 5 citationsjingle · one word, four constructs

References

Kornai, J. (1986). The Soft Budget Constraint. Kyklos, 39(1), 3-30. https://doi.org/10.1111/j.1467-6435.1986.tb01252.x

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