| Author (Person) | Carcea, Mihaela Carpus, Ciriaci, Daria, Cuerpo, Carlos, Lorenzani, Dimitri, Pontuch, Peter |
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| Author (Corporate) | European Commission: DG Economic and Financial Affairs |
| Publisher | Publications Office of the European Union |
| Series Title | European Economy: Discussion Papers |
| Series Details | Number 004 |
| Publication Date | 04/09/2015 |
| ISBN | 978-92-79-48664-7 |
| ISSN | 2443-8022 |
| EC | KC-BD-15-004-EN-N |
| Content Type | Research Paper |
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Summary: This paper provides empirical support to the important role of efficient pre-insolvency frameworks in fostering a culture of early restructuring and second chances in EU Member States and the positive impact that this has on entrepreneurship, as well as the timeliness and cost of corporate and household deleveraging. The analysis is based on a set of composite indicators measuring specific efficiency aspects of rescue and recovery frameworks. These were built using principal component analysis applied on a comparison of the legal provisions they encompass. Econometric analysis carried out on the basis of these indicators suggests that, across the EU, efficient pre-insolvency frameworks are positively associated with relatively higher levels of entrepreneurship and deleveraging episodes with a relatively milder impact on financial stability and economic activity. |
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| Source Link |
Link to Main Source
https://ec.europa.eu/info/publications/economy-finance/economic-impact-rescue-and-recovery-frameworks-eu_en
Alternative sources
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| Subject Categories | Business and Industry |
| Subject Tags | Financial Services |
| Keywords | Insolvency |
| Countries / Regions | Europe |
| International Organisations | European Union [EU] |
