This paper explores the link between the design of insolvency regimes across countries and laggard firms’ multi …-factor productivity (MFP) growth, using new OECD indicators of the design of insolvency regimes. Firm-level analysis shows that reforms to … insolvency regimes that lower barriers to corporate restructuring are associated with higher MFP growth of laggard firms. These …

This paper investigates the likelihood of corporate insolvency and the potential implications of debt overhang of non …

be relieved. This would be facilitated by more efficient insolvency procedures and further development of non …