Discussion paper

DP878 The Economics of Bankruptcy and the Transition to a Market Economy

This paper looks at simple decision rules in bankruptcy procedures. It describes special issues of enterprise liquidation and reorganization during economic transformation. The reforms of the financial system and other important factors in economic transformation influence the impact of bankruptcy regulation in a way distorting it towards liquidation.

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Citation

Gatsios, K and I Abel (1993), ‘DP878 The Economics of Bankruptcy and the Transition to a Market Economy‘, CEPR Discussion Paper No. 878. CEPR Press, Paris & London. https://cepr.org/publications/dp878