Insolvency Regimes And Productivity Growth: A Framework For Analysis
This paper develops an analytical framework to identify the policies relevant for firm exit and the channels through which they shape aggregate productivity growth. A range of potentially relevant policies are identified, spanning insolvency regimes, regulations affecting product, labour and financi...
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| Format: | Elektronisch E-Book |
| Sprache: | English |
| Veröffentlicht: |
Paris
OECD Publishing
2016
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| Schriftenreihe: | OECD Economics Department Working Papers
no.1309 |
| Schlagworte: | |
| Online-Zugang: | Volltext |
| Zusammenfassung: | This paper develops an analytical framework to identify the policies relevant for firm exit and the channels through which they shape aggregate productivity growth. A range of potentially relevant policies are identified, spanning insolvency regimes, regulations affecting product, labour and financial markets, macroeconomic policies, subsidies, taxation and environment regulations. These policies can directly shape aggregate productivity along the exit margin through a variety of channels, including the strength of market selection and the scope and speed at which scarce resources consumed by failing firms can be reallocated to more productive uses. However, since market imperfections often generate obstacles to the orderly exit of failing firms, the efficiency of insolvency regimes emerges as particularly crucial. Thus, the paper analyses corporate and personal insolvency regimes in terms of their goals, optimal design (including trade-offs) and key features relevant for explaining cross-country differences in productivity. Finally, the paper proposes a strategy to obtain policy indicators that better capture cross-country differences in the key design features of corporate and personal insolvency regimes, with a view to facilitate further research on exit policies and productivity growth. |
| Beschreibung: | 1 Online-Ressource (46 p.) 21 x 29.7cm. |
| DOI: | 10.1787/5jlv2jqhxgq6-en |
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| spelling | Adalet McGowan, Müge VerfasserIn aut Insolvency Regimes And Productivity Growth A Framework For Analysis Müge, Adalet McGowan and Dan, Andrews = Régimes d'insolvabilité et croissance de la productivité : Un cadre d'analyse / Müge, Adalet McGowan et Dan, Andrews Régimes d'insolvabilité et croissance de la productivité Paris OECD Publishing 2016 1 Online-Ressource (46 p.) 21 x 29.7cm. Text txt rdacontent Computermedien c rdamedia Online-Ressource cr rdacarrier OECD Economics Department Working Papers no.1309 This paper develops an analytical framework to identify the policies relevant for firm exit and the channels through which they shape aggregate productivity growth. A range of potentially relevant policies are identified, spanning insolvency regimes, regulations affecting product, labour and financial markets, macroeconomic policies, subsidies, taxation and environment regulations. These policies can directly shape aggregate productivity along the exit margin through a variety of channels, including the strength of market selection and the scope and speed at which scarce resources consumed by failing firms can be reallocated to more productive uses. However, since market imperfections often generate obstacles to the orderly exit of failing firms, the efficiency of insolvency regimes emerges as particularly crucial. Thus, the paper analyses corporate and personal insolvency regimes in terms of their goals, optimal design (including trade-offs) and key features relevant for explaining cross-country differences in productivity. Finally, the paper proposes a strategy to obtain policy indicators that better capture cross-country differences in the key design features of corporate and personal insolvency regimes, with a view to facilitate further research on exit policies and productivity growth. Economics Andrews, Dan MitwirkendeR ctb FWS01 ZDB-13-SOC FWS_PDA_SOC https://doi.org/10.1787/5jlv2jqhxgq6-en Volltext |
| spellingShingle | Adalet McGowan, Müge Insolvency Regimes And Productivity Growth A Framework For Analysis Economics |
| title | Insolvency Regimes And Productivity Growth A Framework For Analysis |
| title_alt | Régimes d'insolvabilité et croissance de la productivité |
| title_auth | Insolvency Regimes And Productivity Growth A Framework For Analysis |
| title_exact_search | Insolvency Regimes And Productivity Growth A Framework For Analysis |
| title_full | Insolvency Regimes And Productivity Growth A Framework For Analysis Müge, Adalet McGowan and Dan, Andrews = Régimes d'insolvabilité et croissance de la productivité : Un cadre d'analyse / Müge, Adalet McGowan et Dan, Andrews |
| title_fullStr | Insolvency Regimes And Productivity Growth A Framework For Analysis Müge, Adalet McGowan and Dan, Andrews = Régimes d'insolvabilité et croissance de la productivité : Un cadre d'analyse / Müge, Adalet McGowan et Dan, Andrews |
| title_full_unstemmed | Insolvency Regimes And Productivity Growth A Framework For Analysis Müge, Adalet McGowan and Dan, Andrews = Régimes d'insolvabilité et croissance de la productivité : Un cadre d'analyse / Müge, Adalet McGowan et Dan, Andrews |
| title_short | Insolvency Regimes And Productivity Growth |
| title_sort | insolvency regimes and productivity growth a framework for analysis |
| title_sub | A Framework For Analysis |
| topic | Economics |
| topic_facet | Economics |
| url | https://doi.org/10.1787/5jlv2jqhxgq6-en |
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