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Republic of Lithuania; Financial Sector Assessment Program Update-Technical Note-Insolvency and Creditor Rights Assessment
International Monetary Fund (IMF); International … - 2008
the bailiffs system has contributed to accelerating the recovery process and increasing the enforcement efficiency. In the … area of corporate insolvency, the Enterprise Bankruptcy Law and the Law on Restructuring of Enterprises are generally …
Persistent link: https://www.econbiz.de/10011245697
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European and German insolvency law with focus on cross-border proceedings, COMI and international competence
Šťastný, Tomáš - In: Současná Evropa 2012 (2012) 2, pp. 147-166
law and its practical bankruptcy implementation. We would like to point out that this article is based on the bibliography …
Persistent link: https://www.econbiz.de/10011195465
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Micro-microcrédit et asymétries d’information : cas du Maroc
Abdelhamid, El Bouhadi; Omar, Essardi - Volkswirtschaftliche Fakultät, … - 2007
In this paper we apply the Principal/Agent theory in case of microcredit granted to the Moroccan micro-companies. The practice reveals us that a part of the receipted credits is diverted from its initial objective. Indeed, a situation of information asymmetries linked with adverse selection and...
Persistent link: https://www.econbiz.de/10008490565
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Observing Unobservables: Identifying Information Asymmetries with a Consumer Credit Field Report
Karlan, Dean; Zinman, Jonathan - 2007
Information asymmetries--which occur when one party to a transaction has more or better information than the other party--such as moral hazard or adverse selection, can cause inefficiency, overinvestment, or poverty traps. Unfortunately, they are difficult to identify in practice. This working...
Persistent link: https://www.econbiz.de/10005162675
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Observing Unobservables: Identifying Information Asymmetries with a Consumer Credit Field Experiment
Karlan, Dean S.; Zinman, Jonathan - C.E.P.R. Discussion Papers - 2007
Information asymmetries are important in theory but difficult to identify in practice. We estimate the presence and importance of adverse selection and moral hazard in a consumer credit market using a new field experiment methodology. We randomized 58,000 direct mail offers issued by a major...
Persistent link: https://www.econbiz.de/10005497798
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Dealing with Private Debt Distress in the Wake of the European Financial Crisis A Review of the Economics and Legal Toolbox
Liu, Yan; Rosenberg, Christoph B. - International Monetary Fund (IMF) - 2013
The private non-financial sector in Europe is facing increased challenges in meeting its debt servicing obligation. In response, governments are revisiting legal tools and—in some cases—institutional arrangements to deal with over-indebtedness. For households, where the problem in...
Persistent link: https://www.econbiz.de/10011123879
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Bankruptcy Procedures with Ex Post Moral Hazard
Janda, Karel - Institut ekonomických studií, Univerzita Karlova v Praze - 2004
The optimal design of credit contracts and bankruptcy procedures is an important policy question both in developed … to these important policy problems. My main concern is with the impact of relaxation of bankruptcy procedures providing … for a possibility of a renegotiation of the debt instead of strictly imposing bankruptcy whenever the debtor falls into a …
Persistent link: https://www.econbiz.de/10005808674
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Managing Financial Crises; Recent Experience and Lessons for Latin America
Kincaid, G. Russell; Collyns, Charles - International Monetary Fund (IMF) - 2003
This paper seeks to draw lessons from the IMF’s experience in handling financial crises around the globe over the past ten years that are relevant to the challenges faced by countries in Latin America, especially in the wake of the recent crisis in Argentina. Experience suggests that...
Persistent link: https://www.econbiz.de/10005824823
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Approaches to Corporate Debt Restructuring in the Wake of Financial Crises
Laryea, Thomas - International Monetary Fund (IMF) - 2010
This paper starts from a discussion of the economic case for moderated government intervention in debt restructuring in the nonfinancial corporate sector. It then draws on lessons from past crises to explain three broad approaches that have been applied to corporate debt restructurings in the...
Persistent link: https://www.econbiz.de/10010790467
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Bankruptcy and Ways of Bankruptcy Solution in the Czech Republic according to New Legislation
Randáková, Monika - In: Český finanční a účetní časopis 2008 (2008) 4, pp. 80-88
public ended in adoption of a new legislation based on US Bankruptcy Act amended by experience in application of this act in … out from objective reasons that the company goes bankrupt, one of the following solutions of this bankruptcy (based on new … legislation) has to be chosen – bankruptcy, reorganization or discharge from debts. The aim of this article is to inform about the …
Persistent link: https://www.econbiz.de/10011194707