While this fact may contribute to short run stability in real markets, it also indicates large inefficiencies in production. Research on the barter system has been limited by difficulty in collecting information. A significant percent of barter deals take place in the unofficial economy, some specifically in order to avoid detection. Even deals that are readily disclosed are difficult to quantify, since the goods and IOUs exchanged often have no market price. Finally, there is no accepted definition of what constitutes barter.
Most surveys rely on the respondent's own definition.
Existing explanations for the barter economy in Russia can be arranged along a continuum. At one extreme is the view that enterprises use barter to compensate for institutional deficiencies in the economy. In this case, barter may be value-producing. The associated conclusion is that official GDP estimates undervalue actual economic activity. At the other extreme is the view that barter allows inefficient and bankrupt enterprises to maintain production, and provides opportunities for dishonest managers to steal from shareholders.