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|z 9781451962932
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|a Rodriguez-Delgado, Jose Daniel.
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|a Bankruptcy and Firm Dynamics :
|b The Case of the Missing Firms /
|c Jose Daniel Rodriguez-Delgado.
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|a Washington, D.C. :
|b International Monetary Fund,
|c 2010.
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|a 1 online resource (30 pages)
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|a IMF Working Papers
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|a <strong>Off-Campus Access:</strong> No User ID or Password Required
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|a <strong>On-Campus Access:</strong> No User ID or Password Required
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|a Electronic access restricted to authorized BRAC University faculty, staff and students
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|a Financial frictions have been documented as an important determinant of firm dynamics. In this paper I model bankruptcy procedures, liquidation in particular, as an institutional feature that affects both sides of financial transactions. I construct a model of firm dynamics that generate endogenous borrowing limits and I find that a) inefficient bankruptcy procedures can have quantitatively important aggregate effects, but more importantly; b) that such effects would not be directly visible in the firms that industrial censuses and surveys focus on. I conclude that to capture the effects of the legal framework we need to look beyond the existing firms.
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|a Mode of access: Internet
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|a IMF Working Papers; Working Paper ;
|v No. 2010/041
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| 856 |
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|z Full text available on IMF
|u http://elibrary.imf.org/view/journals/001/2010/041/001.2010.issue-041-en.xml
|z IMF e-Library
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