Gesamtwirtschaftliche Bestimmungsgründe der Insolvenzentwicklung in Deutschland

Harmen Lehment, Christopher Blevins and Espen Sjøvoll

No 842, Kiel Working Papers from Kiel Institute for the World Economy (IfW Kiel)

Abstract: In this paper we empirically analyze the macroeconomic detenninants of insolvencies in Germany since 1970. It is shown that the growth rate of insolvencies can be explained by changes in the rate of return to capital and by preceding changes in the money market interest rate and the inflation rate, as well as by lagged effects of preceding changes in bankruptcies. We also find that Gennan unification contributed to a rise of bankruptcy rates both in West Gennany and in East Germany.

JEL-codes: G33 (search for similar items in EconPapers)
Date: 1997
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Persistent link: https://EconPapers.repec.org/RePEc:zbw:ifwkwp:842

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