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The impact of alterations in the local insolvency legislation on business bankruptcy rates in Poland

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  • Henryk Gurgul
  • Paweł Zając

Abstract

The purpose of this paper is to analyze the number of insolvencies in Poland before and after the major bankruptcy code novelization in the second quarter of 2009. Authors check whether the novelization had its intended effect of reducing bankruptcy rates. Therefore, econometric models have been implemented to investigate changes in bankruptcy rates using quarterly data from the period 2003-2013. While controlling the variety of macroeconomic factors that have influenced insolvency rates, we found that after implementation of the novelization the aggregate bankruptcy rates significantly increased.

Suggested Citation

  • Henryk Gurgul & Paweł Zając, 2014. "The impact of alterations in the local insolvency legislation on business bankruptcy rates in Poland," Statistics in Transition new series, Główny Urząd Statystyczny (Polska), vol. 15(3), pages 453-466, June.
    • Handle: RePEc:csb:stintr:v:15:y:2014:i:3:p:453-466
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    References listed on IDEAS

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