dc.contributor.author	Muro, Sergio
dc.date.accessioned	2021-03-12T19:29:48Z
dc.date.available	2021-03-12T19:29:48Z
dc.date.issued	2021-02-25
dc.description.abstract	The Coronavirus (COVID-19) pandemic brought forward an unprecedented economic contraction. Recessions, in turn, have typically been accompanied by an increase in the number of firms using the insolvency system. This note explores the early impact the pandemic has had on business insolvency filings, based on information from a newly created dataset. Contrary to early expectations, most economies surveyed have experienced a decline in the number of business insolvencies relative to Q2 and Q3 of 2019. shows that legal reasons may have played a key role in this decline as almost all economies covered introduced emergency measures making it more difficult to push a debtor into insolvency. Looking forward, the note explores evidence from previous crisis together with underlying factors -such as lower sales, higher unemployment, firm liquidity challenges, and heightened corporate vulnerabilities- to investigate whether the risk of a wave of insolvencies has disappeared. The analysis suggests that a rise in insolvency filings is likely to have just been postponed, renewing the calls to strengthen insolvency frameworks in EMDEs.	en
dc.identifier	http://documents.worldbank.org/curated/en/962221615273849133/The-Calm-Before-the-Storm-Early-Evidence-on-Business-Insolvency-Filings-After-the-Onset-of-COVID-19
dc.identifier.doi	10.1596/35261
dc.identifier.uri	https://hdl.handle.net/10986/35261
dc.language	English
dc.publisher	World Bank, Washington, DC
dc.relation.ispartofseries	COVID-19 Notes;
dc.rights	CC BY 3.0 IGO
dc.rights.holder	World Bank
dc.rights.uri	http://creativecommons.org/licenses/by/3.0/igo
dc.subject	CORONAVIRUS
dc.subject	COVID-19
dc.subject	PANDEMIC IMPACT
dc.subject	BUSINESS INSOLVENCY
dc.subject	CREDITOR RIGHTS
dc.subject	BANKRUPTCY
dc.subject	GLOBAL FINANCIAL CRISIS
dc.subject	BANKING CRISIS
dc.subject	GLOBAL VALUE CHAIN
dc.subject	DEBT
dc.title	The Calm Before the Storm	en
dc.title.subtitle	Early Evidence on Business Insolvency Filings After the Onset of COVID-19	en
dc.type	Brief	en
dc.type	Fiche	fr
dc.type	Resumen	es
dspace.entity.type	Publication
okr.date.disclosure	2021-03-09
okr.date.doiregistration	2025-04-29T10:20:34.495974Z
okr.doctype	Publications & Research
okr.doctype	Publications & Research::Brief
okr.docurl	http://documents.worldbank.org/curated/en/962221615273849133/The-Calm-Before-the-Storm-Early-Evidence-on-Business-Insolvency-Filings-After-the-Onset-of-COVID-19
okr.guid	962221615273849133
okr.identifier.externaldocumentum	090224b088385658_1_0
okr.identifier.internaldocumentum	32893016
okr.identifier.report	157283
okr.imported	true	en
okr.language.supported	en
okr.pdfurl	http://documents.worldbank.org/curated/en/962221615273849133/pdf/The-Calm-Before-the-Storm-Early-Evidence-on-Business-Insolvency-Filings-After-the-Onset-of-COVID-19.pdf	en
okr.topic	Finance and Financial Sector Development::Bankruptcy and Resolution of Financial Distress
okr.topic	Health, Nutrition and Population::Disease Control & Prevention
okr.topic	Macroeconomics and Economic Growth::Business Cycles and Stabilization Policies
okr.topic	Private Sector Development::Private Sector Economics
okr.unit	Equitable Growth, Finance and Institutions Global Practice

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The Calm Before the Storm: Early Evidence on Business Insolvency Filings After the Onset of COVID-19