"The authors study the effect of reorganization costs on the efficiency of bankruptcy laws. They develop a simple model that predicts that in a regime with high costs, the law fails to achieve the efficient outcome of liquidating unviable businesses and reorganizing viable ones. The authors test...

"The author presents evidence that balance sheet effects are critical determinants of both the likelihood of a crisis and of income losses following a crisis. She tests the validity of "insurance" and "liquidity" models of currency crisis. Both models predict that the occurrence of a balance of...

An Integrative Book Overview Chapter -- The Indian Bankruptcy Reform: The State of the Art -- Reforms and Regulators -- Distortions in Land Markets and Their Implications for Credit Generation in India -- Value Destruction and Wealth Transfer Under the Insolvency and Bankruptcy Code -- The...