The Economics of Bankrupcy, Reorganisation and Liquidation: Lessons for East European Transitional Economies

Iraj Hashi (i.hashi@staffs.ac.uk)

No 41, CASE Network Studies and Analyses from CASE-Center for Social and Economic Research

Abstract: The purpose of this paper is to analyse the economic implications of the bankruptcy procedures in Western market economies with a view to draw appropriate lessons for the transitional economies of Central and Eastern Europe. In Section II, we shall discuss the bankruptcy procedures in four major market eocnomies, emphasising the conditions under which the financially distressed firms are reorganised or liquidated. Section III focuses on the relative efficacy of the 'reorganisation' option in comparison with the 'liquidation' option of the bankruptcy procedures. Section IV highlights the lessons that East European transitional economies may learn from the experience of market economies, drawing attention to a number of important areas of concern in any discussion of the design and implementation of bankruptcy procedures.

Keywords: Eastern Europe; transition; bankrupcy; reorganisation; liquidation (search for similar items in EconPapers)
Pages: 30 Pages
Date: 1995
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (4)

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Persistent link: https://EconPapers.repec.org/RePEc:sec:cnstan:0041

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