Financial distress and emerging markets


The United States' adoption of chapter 11 in the late 1970s began a process of world-wide reevaluation of the mechanisms for resolving financial distress. Especially following a series of financial shocks in the 1990s, corporate reorganization procedures have become vital parts of the new commercial laws of developing economies. At the same time, the United States and other developed economies have recently enacted procedures that suggest an increased willingness to respect and support reorganization in emerging markets. As signs of convergence, albeit at the most general of levels, begin to emerge with regard to the resolution of private-sector financial distress, the reality of global financial integration has greatly complicated the resolution of sovereign financial distress. In short, the general financial distress framework in emerging markets is still a work in progress, leaving gaps for regulators to address and investors to exploit.



    Upload a copy of this work     Papers currently archived: 76,168

External links

Setup an account with your affiliations in order to access resources via your University's proxy server

Through your library

  • Only published works are available at libraries.


Added to PP

8 (#988,082)

6 months
1 (#448,551)

Historical graph of downloads
How can I increase my downloads?

Citations of this work

No citations found.

Add more citations

References found in this work

No references found.

Add more references