There is already some degree of policy convergence between countries in the area of competition policy and corporate governance and more is likely to occur in fuure trade negotiations and in initiatives undertaken by the World Bank. For bankruptcy policy, practive is more varied and there is...

This paper assesses the facts of the matter, searches for their implications for national economies, and considers the scope and need for local and national policies that provide a basis for balanced growth. The first section will summarize the evidence and implications leading to the conclusion...