Debt Enforcement Around the World

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Debt Enforcement Around the World

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Title: Debt Enforcement Around the World
Author: Shleifer, Andrei; McLiesh, Caralee; Hart, Oliver; Djankov, Simeon

Note: Order does not necessarily reflect citation order of authors.

Citation: Djankov, Simeon, Oliver Hart, Caralee McLiesh, and Andrei Shleifer. 2008. Debt enforcement around the world. Journal of Political Economy 116(6): 1105-1149.
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Abstract: Insolvency practitioners from 88 countries describe how debt enforcement will proceed against an identical hotel about to default on its debt. We use the data on time, cost, and the likely disposition of the assets (preservation as a going concern vs. piecemeal sale) to construct a measure of the efficiency of debt enforcement in each country. This measure is strongly correlated with per capita income and legal origin and predicts debt market development. Several characteristics of debt enforcement procedures, such as the structure of appeals and availability of floating charge finance, influence efficiency.
Published Version: http://dx.doi.org/10.1086/595015
Terms of Use: This article is made available under the terms and conditions applicable to Other Posted Material, as set forth at http://nrs.harvard.edu/urn-3:HUL.InstRepos:dash.current.terms-of-use#LAA
Citable link to this page: http://nrs.harvard.edu/urn-3:HUL.InstRepos:2961825

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  • FAS Scholarly Articles [7103]
    Peer reviewed scholarly articles from the Faculty of Arts and Sciences of Harvard University
 
 

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