This paper tests whether Chapter 11 restructuring outcomes are affected by time constraints in busy bankruptcy courts. On average, total bankruptcy filings rise by 32% during economic recessions, leaving bankruptcy judges with far less time per case exactly when financial distress is worst. Using the passage of the Bankruptcy Abuse Prevention and Consumer Protection Act (BAPCPA) in 2005 as an e...

Other papers presented at this conference have documented the substantial recent decline in real estate prices and the impact of this decline on financial institutions. This paper will take the decline in bank capital as a result of exposure to real estate as given, and address how banks have responded to their deteriorated financial condition. The paper will show that real estate losses, combi...

In line with the priorities set by the OECD Bologna Process on SME & Entrepreneurship Policies and the Istanbul Ministerial Declaration (June 2004), the OECD Centre for Entrepreneurship, SMEs and Local Development (CFE) participates actively in Working Group 4 of the MENA-OECD Investment Initiative on Investment and Governance for Development through Output 3: “Improving the Policy Environment ...

Inflation targeting needs to be supplemented by an economic growth target so that central banks will not adopt monetary policy which results in stagnation. There is no guarantee that the economy will move towards full employment by itself when the inflation rate is kept between two to three per cent. Monetary policy does not have a comparative advantage in achieving price stability. Svensson's ...

How does finance affect employment and inter-industry job reallocations? We present a model that predicts that financial development (i) raises employment and wages, its impact being smaller at high levels of the equilibrium wage and financial development; (ii) may induce either more or less job reallocations, depending on whether shocks to profit opportunities or to cash flow are more prevalen...

Measuring performance and determining the key factors of performance have been an important research topic in different sector in recent years. The main goal of this study is to evaluate the performance ranks of the private banks in Turkey due to the fact that performances of private banks are important at the stage of economic growth. In this research, the private banks in Turkey ranked by TOP...

School of Medicine, Medical and Biological Sciences, University of St Andrews, UK, email lindsey. [email protected] I visited Chile for the first time in 2003. Over the course of the 12 months during which the country became my home, I realised there was a secret side to the capital city, Santiago. Never was this clearer than when I witnessed a demonstration to mark the 30th anniversary of th...

Promoting Entrepreneurship in Developing Countries: Policy Challenges T RECENT ENTHUSIASM OF DONORS, DEVELOPMENT agencies and governments for promoting entrepreneurship as a route to development is perplexing. Entrepreneurs, called “heroes” by The Economist (14 March, 2009), appear upon closer scrutiny to be rather irrelevant and even impotent in many developing countries. Three decades ago, Na...

BACKGROUND Malaria is a serious public health problem in sub-Saharan Africa and is a leading cause of morbidity and mortality. AIM To estimate the economic burden of malaria in rural households. SETTING The study was conducted in Gwanda district of Matabeleland South in Zimbabwe. A total of five malarious wards and all their households were selected for the study frame, out of which 80 hous...

BACKGROUND Because economic data on the prophylactic usage of antibiotic in Iran are scant, we have conducted a cross-sectional study with provider perspective to measure costs and appropriate use of antibiotics in surgical wards of 6 training hospitals affiliated to Shiraz University of Medical Sciences (SUMS), Iran. METHODS Over a six-month period 1,000 consecutive patients undergoing surgi...