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Book Cover
Author Rodríguez-Delgado, Jose Daniel, author

Title Bankruptcy and firm dynamics : the case of the missing firms / prepared by José Daniel Rodríguez-Delgado
Published Washington, D.C. : International Monetary Fund, [2010]
Online access available from:
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Description 1 online resource (30 pages) : color illustrations
Series IMF working paper ; WP/10/41
IMF working paper ; WP/10/41
Summary 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
Notes "February 2010."
At head of title: IMF Institute
Bibliography Includes bibliographical references (pages 21-22)
Notes Print version record
Subject Bankruptcy -- Econometric models.
Business failures -- Econometric models.
Liquidation -- Econometric models.
Form Electronic book
Author IMF Institute, issuing body
International Monetary Fund, issuing body
ISBN 1283566141
1451918860 (E-Book)