Debt Enforcement around the World

  title={Debt Enforcement around the World},
  author={Simeon Djankov and Oliver Hart and Andrei Shleifer},
Insolvency practitioners from 88 countries describe how debt enforcement will proceed against an identical hotel about to default on its debt. We use the data on time, cost, and the likely disposition of the assets (preservation as a going concern vs. piecemeal sale) to construct a measure of the efficiency of debt enforcement in each country. This measure is strongly correlated with per capita income and legal origin and predicts debt market development. Several characteristics of debt… CONTINUE READING
Highly Influential
This paper has highly influenced 12 other papers. REVIEW HIGHLY INFLUENTIAL CITATIONS
Highly Cited
This paper has 77 citations. REVIEW CITATIONS
61 Citations
19 References
Similar Papers


Publications citing this paper.

78 Citations

Citations per Year
Semantic Scholar estimates that this publication has 78 citations based on the available data.

See our FAQ for additional information.


Publications referenced by this paper.
Showing 1-10 of 19 references

Shleifer (2003a), “The New Comparative Economics,

  • Djankov, Simeon, Edward Glaeser, Rafael La Porta, Florencio Lopez-de-Silanes, Andrei
  • Journal of Comparative Economics
  • 2003
Highly Influential
10 Excerpts

Shleifer (2003b), “Courts,

  • Djankov, Simeon, Rafael La Porta, Florencio Lopez-de-Silanes, Andrei
  • Quarterly Journal of Economics
  • 2003
Highly Influential
4 Excerpts

Judge-Specific Effects in Ch.11 and Firm Outcomes,

  • Schoar, Antoinette
  • 2006

Matching Bankruptcy Laws to Legal Environments,

  • Ayotte, Kenneth, Hayong Yun
  • 2006

The Costs of Bankruptcy: Chapter 7 Liquidation vs Chapter 11 Reorganization,

  • Bris, Arturo, Ivo Welch, Ning Zhu
  • Journal of Finance
  • 2006
1 Excerpt

Bankruptcy around the World: Explanations of Its Relative Use,

  • Claessens, Stijn, Leora Klapper
  • American Law and Economics Review
  • 2005

How Law Affects Lending,

  • Haselmann, Rainer, Katharina Pistor, Vikrant Vig
  • Columbia Law and Economics Working Paper No
  • 2005

Related Lending,

  • LaPorta, Rafael, Florencio Lopez-de-Silanes, Guillermo Zamarripa
  • Quarterly Journal of Economics
  • 2003

The Nature of the Bankrupt Firm: A Reply to Baird and Rasmussen’s The End of Bankruptcy,

  • LoPucki, Lynn
  • Stanford Law Review
  • 2003

Similar Papers

Loading similar papers…