The Challenges of Bankruptcy Reform

The 2008 financial crisis was followed by a global economic downturn, credit crunch, and reduction in cross-border lending, trade finance, remittances, and foreign direct investment, which adversely affected businesses around the world. The consequ...

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Main Authors:	Cirmizi, Elena, Klapper, Leora, Uttamchandani, Mahesh
Format:	Policy Research Working Paper
Language:	English
Published:	2012
Subjects:	BANKRUPTCY LAWS BANKRUPTCY REFORMS CAPITAL REALLOCATION FINANCIAL CRISIS IMPACT INSOLVENCY LEGISLATION LIQUIDATION PRIVATE SECTOR DEVELOPMENT
Online Access:	http://www-wds.worldbank.org/external/default/main?menuPK=64187510&pagePK=64193027&piPK=64187937&theSitePK=523679&menuPK=64187510&searchMenuPK=64187283&siteName=WDS&entityID=000158349_20101018113213 http://hdl.handle.net/10986/3931

id	okr-10986-3931
recordtype	oai_dc
spelling	okr-10986-39312021-04-23T14:02:13Z The Challenges of Bankruptcy Reform Cirmizi, Elena Klapper, Leora Uttamchandani, Mahesh BANKRUPTCY LAWS BANKRUPTCY REFORMS CAPITAL REALLOCATION FINANCIAL CRISIS IMPACT INSOLVENCY LEGISLATION LIQUIDATION PRIVATE SECTOR DEVELOPMENT The 2008 financial crisis was followed by a global economic downturn, credit crunch, and reduction in cross-border lending, trade finance, remittances, and foreign direct investment, which adversely affected businesses around the world. The consequent increase in the number of firm insolvencies in the financial and corporate sectors highlights the importance of efficient bankruptcy laws. This paper summarizes the theoretical and empirical literature on bankruptcy design, discusses the challenges of introducing and implementing bankruptcy reforms, and presents examples of how policymakers are trying to use the current economic downturn as an opportunity to engage in meaningful reform of the bankruptcy process. 2012-03-19T18:42:23Z 2012-03-19T18:42:23Z 2010-10-01 http://www-wds.worldbank.org/external/default/main?menuPK=64187510&pagePK=64193027&piPK=64187937&theSitePK=523679&menuPK=64187510&searchMenuPK=64187283&siteName=WDS&entityID=000158349_20101018113213 http://hdl.handle.net/10986/3931 English Policy Research working paper ; no. WPS 5448 CC BY 3.0 IGO http://creativecommons.org/licenses/by/3.0/igo/ World Bank Publications & Research :: Policy Research Working Paper The World Region The World Region
repository_type	Digital Repository
institution_category	Foreign Institution
institution	Digital Repositories
building	World Bank Open Knowledge Repository
collection	World Bank
language	English
topic	BANKRUPTCY LAWS BANKRUPTCY REFORMS CAPITAL REALLOCATION FINANCIAL CRISIS IMPACT INSOLVENCY LEGISLATION LIQUIDATION PRIVATE SECTOR DEVELOPMENT
spellingShingle	BANKRUPTCY LAWS BANKRUPTCY REFORMS CAPITAL REALLOCATION FINANCIAL CRISIS IMPACT INSOLVENCY LEGISLATION LIQUIDATION PRIVATE SECTOR DEVELOPMENT Cirmizi, Elena Klapper, Leora Uttamchandani, Mahesh The Challenges of Bankruptcy Reform
geographic_facet	The World Region The World Region
relation	Policy Research working paper ; no. WPS 5448
description	The 2008 financial crisis was followed by a global economic downturn, credit crunch, and reduction in cross-border lending, trade finance, remittances, and foreign direct investment, which adversely affected businesses around the world. The consequent increase in the number of firm insolvencies in the financial and corporate sectors highlights the importance of efficient bankruptcy laws. This paper summarizes the theoretical and empirical literature on bankruptcy design, discusses the challenges of introducing and implementing bankruptcy reforms, and presents examples of how policymakers are trying to use the current economic downturn as an opportunity to engage in meaningful reform of the bankruptcy process.
format	Publications & Research :: Policy Research Working Paper
author	Cirmizi, Elena Klapper, Leora Uttamchandani, Mahesh
author_facet	Cirmizi, Elena Klapper, Leora Uttamchandani, Mahesh
author_sort	Cirmizi, Elena
title	The Challenges of Bankruptcy Reform
title_short	The Challenges of Bankruptcy Reform
title_full	The Challenges of Bankruptcy Reform
title_fullStr	The Challenges of Bankruptcy Reform
title_full_unstemmed	The Challenges of Bankruptcy Reform
title_sort	challenges of bankruptcy reform
publishDate	2012
url	http://www-wds.worldbank.org/external/default/main?menuPK=64187510&pagePK=64193027&piPK=64187937&theSitePK=523679&menuPK=64187510&searchMenuPK=64187283&siteName=WDS&entityID=000158349_20101018113213 http://hdl.handle.net/10986/3931
_version_	1764389079365976064

The Challenges of Bankruptcy Reform

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