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"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...
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and of income losses following a crisis. She tests the validity of "insurance" and "liquidity" models of currency crisis …
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The legal and institutional framework governing creditor rights and insolvency proceedings in Chile reasonably complies with expectations of a modern, credit-based economy, although some shortcomings affect the full effectiveness of credit risk management and resolution: Financial institutions...
Persistent link: https://www.econbiz.de/10012559372
The Bank assessed the Mauritius insolvency and creditor rights systems pursuant to a joint IMF-World Bank initiative to develop reports on the observance of standards and codes ("ROSC"), based on the Bank Principles and Guidelines for Effective Insolvency and Creditor Rights Systems during 2002....
Persistent link: https://www.econbiz.de/10012559382
liquidity in the financial system, partly caused by spending of oil receipts. In the face of persistent excess liquidity in the …; however, these had a limited impact on monetary aggregates. A structural excess liquidity is a common feature in oil exporting … monetary policy and liquidity management and discusses role of selective financial markets in improving liquidity management in …
Persistent link: https://www.econbiz.de/10012560066
The importance of a modern, binding and effective insolvency regime is undeniable. Nearly 90 countries around the world have reformed their bankruptcy codes since Second World War, and over half of them have done so during the last decade. One of the key aspects in the reform process is the...
Persistent link: https://www.econbiz.de/10012557296
The legal environment in Lithuania to support creditor rights and debt enforcement is reasonably effective, and collateral regimes have been largely centralized and modernized. Consistent with a modern system, security interests may be granted in immoveable and moveable assets, including...
Persistent link: https://www.econbiz.de/10012558915