"Broner, Lorenzoni, and Schmukler argue that emerging economies borrow short term due to the high risk premium charged … outcome of a risk-sharing problem between the government and bondholders. By issuing long-term debt, the government lowers the … probability of a liquidity crisis, transferring risk to bondholders. In equilibrium, this risk is reflected in a higher risk …

The legal and institutional framework governing creditor rights and insolvency proceedings in Chile reasonably complies … risk management and resolution: Financial institutions over-rely on real estate as collateral. Pledges are not enough … enjoying such instruments use ordinary proceedings whose duration is even longer (3 to 5 years). Insolvency legislation is …

, corporate insolvency and credit risk management and resolution practices. Conclusions in this assessment are based largely on a …The Bank assessed the Mauritius insolvency and creditor rights systems pursuant to a joint IMF-World Bank initiative to … Insolvency and Creditor Rights Systems during 2002. The assessment team interviewed a cross section of country stakeholders …

The importance of a modern, binding and effective insolvency regime is undeniable. Nearly 90 countries around the world … of the key aspects in the reform process is the delicate balance addressed by a modern insolvency system which encourages … of insolvent companies high on the policy agenda. The three fundamental goals of any insolvency law are: 1) transparency …

. The insolvency process in Lithuania has been almost exclusively one of liquidation, plagued by delay and procedural … obstacles. A new insolvency law was adopted in July 2001, bringing to three the number of insolvency laws currently in effect …. The process may be aided by the developing training guides and programs. Regulation of insolvency remains fragmented and …

infrastructure, and its implementation supporting debtor-creditor relationships, corporate insolvency and credit risk management, and … resolution practices, including among others, members of the Inter-Agency Commission for the preparation of a new insolvency law … addition, at least three commercial banks provided responses to a questionnaire pertaining to credit risk management, and …

In 1995, Argentina enacted a new modern insolvency law that substantially improved corporate liquidations and … difficult in practice; (2) the unified insolvency regime causes severe problems in judicial interpretation of many legal … provisions, causing court congestion with insolvency cases; (3) an uneven playing field discourages rehabilitation; (4) a lack of …