Insolvency and Debt Recovery Procedures in Economic Development: An Overview of African Law

Clas Wihlborg

No DP2002-27, WIDER Working Paper Series from World Institute for Development Economic Research (UNU-WIDER)

Abstract: Insolvency and debt recovery procedures are as crucial to a well-performing financial sector as credit provision itself. They are even more important in Africa, where attempts are underway to create fully-fledged financial markets. For the financial system to be credible, creditors must be ensured that lenders will meet their obligations and that cases against them will be brought to closure. A good legal framework for insolvency also ensures distressed firms a form of orderly exit, thereby enabling their owners to start afresh.

Keywords: Bankruptcy; Commercial law; Credit; Financial institutions; Institutional economics (search for similar items in EconPapers)
Date: 2002
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Citations: View citations in EconPapers (3)

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