This paper investigates the likelihood of corporate insolvency and the potential implications
of debt overhang of non-financial corporations induced by economic shock associated with …

This paper explores cross-country differences in the design of insolvency regimes and their
potential links with two inter-related sources of labour productivity weakness: the survival of …

This paper explores cross-country differences in the design of insolvency regimes, based on
quantitative indicators constructed from countries' responses to a recent OECD policy …

In most advanced economies productivity growth has been hampered by barriers that allow
zombie firms to survive. We examine the effectiveness of institutional reforms in Portugal that …

This paper develops an analytical framework to identify the policies relevant for firm exit and
the channels through which they shape aggregate productivity growth. A range of potentially …

Insolvency law used to be a set of rules that govern the way a debtor is treated once he
became insolvent and stopped trading. Certain mechanisms respond to this incident in order …

The same late autumn, the same grim socio-economic “picture”, painted in shades of grey, at
least at national level, in which the health crisis reaches unimaginable heights and the wave …

The profitability of Italian banks depends, among other factors, on the strength of the
ongoing economic recovery, the stance of monetary policy, and the beneficial effects of …

Poland's productivity has grown strongly over the past two decades. However, the public
and private capital stock is weak, and investment remains focused on the adoption of …

This paper surveys the literature on the impact of structural reforms of the judicial system. We
focus on two key types of reforms: those enhancing the overall efficiency of the system, in …