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Sistemas Legais De Insolvência, Incentivos E Mercado De Crédito: Uma Abordagem Institucional

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Author Info
Ana Carla Abrão Costa
Abstract

This study develops an institutional discussion about insolvency resolution systems. The main motivation was the analysis of a specific aspect of the bank-borrower relationship and its impacts on price and volumes of loan concessions. At this point, incentives and e.ciency issues emerge and are analyzed having the Brazilian legal system of insolvency reform, now in course, as a background.

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Paper provided by ANPEC - Associação Nacional dos Centros de Pósgraduação em Economia [Brazilian Association of Graduate Programs in Economics] in its series Anais do XXXII Encontro Nacional de Economia [Proceedings of the 32th Brazilian Economics Meeting] with number 097.

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Date of creation: 2004
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Handle: RePEc:anp:en2004:097

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G3 - Financial Economics - - Corporate Finance and Governance
D2 - Microeconomics - - Production and Organizations
K2 - Law and Economics - - Regulation and Business Law

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  1. Oliver Hart, 2000. "Different Approaches to Bankruptcy," Harvard Institute of Economic Research Working Papers 1903, Harvard - Institute of Economic Research. [Downloadable!]
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  2. Allen, Franklin, 1990. "The market for information and the origin of financial intermediation," Journal of Financial Intermediation, Elsevier, vol. 1(1), pages 3-30, March. [Downloadable!] (restricted)
  3. Aloisio Araujo, 2002. "As Leis de Falência: uma Abordagem Econômica," Working Papers Series 57, Central Bank of Brazil, Research Department. [Downloadable!]
  4. Raghuram G. Rajan & Luigi Zingales, . "Financial Dependence and Growth," CRSP working papers 344, Center for Research in Security Prices, Graduate School of Business, University of Chicago.
    Other versions:
  5. Aghion, Philippe & Hart, Oliver & Moore, John, 1992. "The Economics of Bankruptcy Reform," Journal of Law, Economics and Organization, Oxford University Press, vol. 8(3), pages 523-46, October.
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  6. Stijn Claessens & Leora F. Klapper, 2005. "Bankruptcy around the World: Explanations of Its Relative Use," American Law and Economics Review, Oxford University Press, vol. 7(1), pages 253-283. [Downloadable!] (restricted)
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  7. Beck, Thorsten & Levine, Ross & Loayza, Norman, 2000. "Finance and the sources of growth," Journal of Financial Economics, Elsevier, vol. 58(1-2), pages 261-300. [Downloadable!] (restricted)
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  8. Thorsten Beck & Ross Levine, 2003. "Legal institutions and financial development," Policy Research Working Paper Series 3136, The World Bank. [Downloadable!]
    Other versions:
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