Enhancing insolvency frameworks to support economic renewal

Abstract

ENHANCING INSOLVENCY FRAMEWORKS TO SUPPORT ECONOMIC RENEWAL UnclassifiedOECD Working Papers should not be reported as representing the official views of the OECD or of its member countries. The opinions expressed and arguments employed are those of the author(s).Working Papers describe preliminary results or research in progress by the author(s) and are published to stimulate discussion on a broad range of issues on which the OECD works.Comments on Working Papers are welcomed, and may be sent to the Economics Department, OECD,

Improving the business environment to accelerate convergence in Croatia

“…Research suggests information campaigns need to be careful to avoid further adding to perceptions that corruption is widespread, as this may inadvertently reinforce corruption by normalising it (Ajzenman, 2021 [43]). By contrast, examples of appropriate behaviour can help to build trust that corruption is not the norm, and so change perceptions about how acceptable corruption is and how likely people are to engage in corruption.…”

Rising energy prices and productivity: short-run pain, long-term gain?

“…The data used in the empirical analysis cover firms located in 21 countries and operating in the manufacturing and construction sectors over the 1995-2020 period. 4,5 Moreover, the data excludes very small firmsthose having less than 3 employeesto avoid concerns related to the quality of financial statements. Given that some regression specifications exploit exclusively within-firm variation, the dataset is further restricted to firms reporting for at least three consecutive years for the short-term analysis and for at least six years for the medium-term analysis.…”

“…The two-digit codes included are within the 10-43 range according to NACE Rev.2 classification, excluding the 35-39 codes, referring to energy producing and utilities sectors 5. Countries included (both firm-level and energy price data available) are: BEL, BGR, CZE, DEU, DNK, ESP, EST, FIN, FRA, GBR, HUN, IRL, ITA, JPN, KOR, POL, PRT, ROU, SVK, SVN, SWE.…”

“…Significance Level: + 15%, *10%, **5%, ***1%. The coefficients are those resulting of estimating Equation2in specifications (1) to (4) and of Equation (4) for specifications(5) and(8). Firm-level controls include size and age dummies, ROA, and leverage, all lagged one period.…”