Legal vs. economic explanations of the rise in bankruptcies in 19th century France‪

La croissance du nombre de faillites en France au XIX e siècle: explications juridiques ou explications économiques ?

Pierre Hautcoeur and Nadine Levratto ()
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Nadine Levratto: EconomiX - EconomiX - UPN - Université Paris Nanterre - CNRS - Centre National de la Recherche Scientifique, CEET - Centre d'études de l'emploi et du travail - CNAM - Conservatoire National des Arts et Métiers [CNAM] - M.E.N.E.S.R. - Ministère de l'Education nationale, de l’Enseignement supérieur et de la Recherche - Ministère du Travail, de l'Emploi et de la Santé

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Abstract: This paper aims at explaining the changes in the number of bankruptcies during the second part of the 19th century and the beginning of the 20th. We firstly study these changes in the perspective of the evolution of the French insolvency law; we then introduce a geographic dimension that we show to be very relevant. We indeed observe that the court of the Paris district is more tolerant than the others; however, this kind of use of the law will spread in the other courts until the reform in 1889 that creates the judicial liquidation. The spatial analysis permits us to show that the changes in the law do not explain the total variations of the total amount of bankruptcies. The local practices, the way judicial agents act and the changes in the firms' strategies are also essential in the explanation.

Keywords: Corporate bankruptcy; commercial code; Commercial courts; 19th century (search for similar items in EconPapers)
Date: 2017
Note: View the original document on HAL open archive server: https://shs.hal.science/halshs-01802893v1
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Published in Revue d'économie industrielle , 2017, 160, pp.23 - 45. ⟨10.4000/rei.6630⟩

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Working Paper: Legal vs. economic explanations of the rise in bankruptcies in 19th century France‪ (2017)
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Persistent link: https://EconPapers.repec.org/RePEc:hal:journl:halshs-01802893

DOI: 10.4000/rei.6630

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