EconPapers    
Economics at your fingertips  
 

Debt Enforcement around the World

Simeon Djankov (), Oliver Hart, Caralee McLiesh and Andrei Shleifer

Journal of Political Economy, 2008, vol. 116, issue 6, 1105-1149

Abstract: Insolvency practitioners from 88 countries describe how debt enforcement will proceed against an identical hotel about to default on its debt. We use the data on time, cost, and the likely disposition of the assets (preservation as a going concern vs. piecemeal sale) to construct a measure of the efficiency of debt enforcement in each country. This measure is strongly correlated with per capita income and legal origin and predicts debt market development. Several characteristics of debt enforcement procedures, such as the structure of appeals and availability of floating charge finance, influence efficiency. (c) 2008 by The University of Chicago. All rights reserved.

Date: 2008
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (235) Track citations by RSS feed

Downloads: (external link)
http://dx.doi.org/10.1086/595015 link to full text (text/html)
Access to full text is restricted to subscribers.

Related works:
Working Paper: Debt Enforcement Around the World (2008) Downloads
Working Paper: Debt Enforcement Around the World (2006) Downloads
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:ucp:jpolec:v:116:y:2008:i:6:p:1105-1149

Access Statistics for this article

More articles in Journal of Political Economy from University of Chicago Press
Bibliographic data for series maintained by Journals Division ().

 
Page updated 2019-11-30
Handle: RePEc:ucp:jpolec:v:116:y:2008:i:6:p:1105-1149