The economics of the EU’s corporate-insolvency law and the quest for harmonization by market forces

Sussman, Oren (2008) The economics of the EU’s corporate-insolvency law and the quest for harmonization by market forces. In: Freixas, Xavier, Hartmann, Phillipp and Mayer, Colin, (eds.) Handbook of European Financial Markets and Institutions. Oxford University Press, pp. 238-264. ISBN 978-0199229956

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Abstract

In 2002, a new legislation that harmonises insolvency laws within the EU came into effect. I find reasons – both theoretical and empirical – to doubt whether the new law has achieved the goal of decreasing the cost of cross-border insolvency and borrowing. I thus suggest an alternative approach to the problem, which is based – to a larger extent – on market forces rather than on political or
bureaucratic initiative.

Item Type: Book Section
Keywords: Law; European Union; Insolvency; Markets
Subject(s): Finance
Date Deposited: 05 Apr 2012 20:28
Last Modified: 01 Nov 2016 15:20
URI: http://eureka.sbs.ox.ac.uk/id/eprint/2955

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