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

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 …

insolvency regimes do not unduly inhibit corporate restructuring. Thus, leveraging the important complementarities between bank … strengthening efforts and insolvency regime reform would contribute to breaking the shackles on potential growth in Europe. …

This paper explores cross-country differences in the design of insolvency regimes, based on quantitative indicators … for 2010 and 2016 – aim to better capture the key design features of insolvency which impact the timely initiation and … resolution of personal and corporate insolvency proceedings. According to these metrics, the design of insolvency regimes varies …

distress (such as illiquidity or insolvency) at a counterparty firm. But contractual obligations are not the only means by …