government. Reform thus requires paying as much attention to understanding the politics and institutional dimensions as to policy … "manual" for reform, given diverse contexts and serendipity in any reform effort. But three broad lessons emerge. The first is … to recognize and seize opportunities for reform. Crisis and new governments are important catalysts, but so is the …

businesses and reorganizing viable ones. The authors test the model using the Colombian bankruptcy reform of 1999. Using data … from 1,924 firms filing for bankruptcy between 1996 and 2003, they find that the pre-reform reorganization proceeding was … lowering reorganization costs, the reform improved the selection of viable firms into reorganization. In this sense, the new …

affects access, quality, and labor productivity, but negatively affects affordability. However, reform policies affect … it affects performance and interacts with reform policies. "--World Bank web site …