Publication: Resolution of Financial Distress : An International Perspective on the Design of Bankruptcy Laws
Date
2001-05
ISSN
Published
2001-05
Author(s)
Claesens, Stijn
Djankov, Simeon
Mody, Ashoka
Abstract
The institutions of bankruptcy have been
at the center of the great economic events of the last
decade, ranging from the Asian economic crisis, to the
transition from socialism to capitalism. Our understanding
of the economic, and legal structure of these institutions,
as well as of their impact on economic development, has
advanced considerably during this period as well. This study
provides valuable information on the advances for resolution
of financial distress, through theoretical studies,
historical data, and evidence from recent worldwide
experiences. It illustrates the possibilities, and methods
of beneficial legal reform of bankruptcy procedures, as well
as the pitfalls of misguided political action. The study is
a timely, and valuable resource for economists, lawyers, and
all others interested in institutional reform in emerging
financial markets.
Citation
“Claesens, Stijn; Djankov, Simeon; Mody, Ashoka. 2001. Resolution of Financial Distress : An International Perspective on the Design of Bankruptcy Laws. WBI Development Study;. © Washington, DC: World Bank. http://openknowledge.worldbank.org/entities/publication/6b4e8816-ff1d-5c7e-a7f1-aef7a38d11dd License: CC BY 3.0 IGO.”