caa a22 4500 397559135 CHVBK 20180308164811.0 cr unu---uuuuu 161202e199609 xx s 000 0 eng 10.1093/wber/10.3.425 doi (NATIONALLICENCE)oxford-10.1093/wber/10.3.425 Hungary's Bankruptcy Experience, 1992-93 [Elektronische Daten] [Cheryl W. Gray, Sabine Schlorke, Miklos Szanyi] Policymakers working on enterprise restructuring should take a close look at Hungary's experience with bankruptcy reform since 1992. This article provides detailed data on a randomly selected stratified sample of actual cases filed in the first two years after the enactment of the law. These data are supplemented with information obtained from interviews with judges, liquidators, and firms involved in the bankruptcy process to give an overall picture of the process in the first two years of its implementation. The bankruptcy process in Hungary has indisputably spurred institution building in the courts, the trustee profession, and the banks. It may also have succeeded broadly in separating viable from unviable firms. It did little, however, to further either deep restructuring or the exit of ailing firms. The changes in incentives and institutions that are needed to make bankruptcy work in transition economies invariably take time. Hungary's initiative, albeit imperfect, was a bold start toward reform. © 1996 The International Bank for Reconstruction and Development / THE WORLD BANK Articles nationallicence Gray Cheryl W. aut Schlorke Sabine aut Szanyi Miklos aut The World Bank Economic Review Oxford University Press 10/3(1996-09), 425-450 0258-6770 10:3<425 1996 10 wber https://doi.org/10.1093/wber/10.3.425 text/html Onlinezugriff via DOI 1 research-article jats NATIONALLICENCE 856 40 https://doi.org/10.1093/wber/10.3.425 text/html Onlinezugriff via DOI NATIONALLICENCE 700 1- Gray Cheryl W. aut NATIONALLICENCE 700 1- Schlorke Sabine aut NATIONALLICENCE 700 1- Szanyi Miklos aut NATIONALLICENCE 773 0- The World Bank Economic Review Oxford University Press 10/3(1996-09), 425-450 0258-6770 10:3<425 1996 10 wber Metadata rights reserved CC BY-NC-4.0 http://creativecommons.org/licenses/by-nc/4.0 nationallicence BK010053 XK010053 XK010000 NATIONALLICENCE NATIONALLICENCE NL-oxford