The economics of the EUâ€™s corporate-insolvency law and the quest for harmonisation by market forces
OFRC Working Papers Series from Oxford Financial Research Centre
In 2002, a new legislation that harmonises insolvency laws within the EU came into effect. I find reasons â€“ both theoretical and empirical â€“ to doubt whether the new law has achieved the goal of decreasing the cost of cross-border insolvency and borrowing. I thus suggest an alternative approach to the problem, which is based â€“ to a larger extent â€“ on market forces rather than on political or bureaucratic initiative.
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Persistent link: https://EconPapers.repec.org/RePEc:sbs:wpsefe:2005fe16
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