We take a retrospective look at Hungary's experiment with a particularly draconian bankruptcy law. For an eighteen-month period in 1992-93, the Hungarian bankruptcy code contained an unusual automatic trigger that required the managers of firms that held overdue debts of any size to any creditor...

In this paper we look at how much of a burden the business environment can place on firms. For the first time, the BEEPS V round of business environment surveys conducted in 2012-14 included a question asking managers to predict their cost reductions if a range of obstacles to their operation...