The goal of this paper is to analyze the premiere effects of the New Brazilian Bankruptcy Law, measuring its impact over the amount of bankruptcies and judicial reorganizations, and the firms' access to credit. Making use of econometric models we find that the amount of bankruptcies (requested...

The failure of pat solutions, based on a highly centralized decision making process of channeling budgetary resources and forced savings to state and local governments, led to a situation in which financial difficulties became one of the main reasons of the deteriorating urban infrastructure and...