Naslov
Reforming the Business Environment to Cope with Over-Indebtedness: the Case of the EU

Autori
Dimitrić, Mira ; Škalamera-Alilović, Dunja ; Tomas Žiković, Ivana

Vrsta, podvrsta i kategorija rada
Radovi u zbornicima skupova, cjeloviti rad (in extenso), znanstveni

Izvornik
Economic and Social Development "Sustainability from an Economic and Social Perspective" / Ribeiro, Humberto ; Naletina, Dora ; Lorga da Silva, Ana - Lisabon : VADEA ; The Research Unit on Governance, Competitiveness and Public Policies (GOVCOPP), Aveiro, Portugal ; Study Centre for European Policy Studies (CEPS), Lisbon, Portugal, 2018, 172-182

Skup
35th International Scientific Conference on Economic and Social Development: Sustainability from an Economic and Social perspective

Mjesto i datum
Lisabon, Portugal, 15.11.2018. - 16.11.2018

Vrsta sudjelovanja
Predavanje

Vrsta recenzije
Međunarodna recenzija

Ključne riječi
Business Environment Reforms, Enforcing Contracts, Resolving Insolvency, Business Over-Indebtedness

Sažetak
The problem of business over-indebtedness is growing ; this is reflected in the rising value of unsettled liabilities and, consequently, in the rising number of business insolvencies. The role of legal business environment in treating this problem has proven to be crucial. Within the legal framework, the greatest attention in research has been given to the efficiency of the judicial system and the surrounding and supporting institutions dealing with contract enforcement and insolvency regime. In line with such research background, the World Bank (WB) project aimed at measurement of legal framework efficiency was launched in 2004. The goal of this paper is to evaluate the reformative efforts on the sample of EU national economies based on WB indicators of legal framework efficiency and WB data on actual implemented reforms regarding enforcing contracts and resolving insolvency. Methodology applied is dynamic panel-data estimation, which, besides the data on the existence of legal framework reforms, also includes additional variables that have an impact on judicial efficiency: level of GDP, government expenditures, and level of corruption. The results indicate that reformative efforts taken by the governments in this period have not had the desired effect on the indicators measuring the efficiency of the enforcing contracts and resolving insolvency procedures. Government efforts in the future should be devoted to better design of the reforms, since the resources for the reforms had not been allocated efficiently.

Izvorni jezik
Engleski

Znanstvena područja
Ekonomija

Napomena
This work has been supported by the Croatian
Science Foundation under the project 6558 Business
and Personal Insolvency: The Ways to Overcome
Excessive Indebtedness and by the University of
Rijeka under the project: Approaches and Methods
of Cost and Management Accounting in Croatian
Public Sector (No. 13.02.1.2.09)

POVEZANOST RADA