This paper provides an overview of key elements of Corporate Bankruptcy Codes and Practice around the world that are relevant to the debate on Sovereign Debt Restructuring. It highlights four components common to most bankruptcy reorganization institutions: a stay on debt collection efforts to...

Factor-analytic models can substantially improve the measurement of comparative legal systems and thereby our understanding of how legal systems influence economic outcomes. These methods yield better estimates of latent constructs, allow us to evaluate whether institutional features are...