Finance and labour reallocationthe consequences of a liquidation reform

Resumo

In 2005, the Brazilian bankruptcy law was changed to improve secured creditor’s protection. I explore the bankruptcy reform together with heterogeneity of the judicial efficiency, at the municipal level, and heterogeneity of the firm’s asset tangibility, at the sectoral level, to study possible effects on labour reallocation. By applying an instrumental variable approach, I find that firms operating on municipalities with a more efficient judicial system observed a higher increase in their labour force after the reform, and that this effect was stronger on firms operating in sectors which use more tangible assets.

Ficha do documento

Tipo

Dissertação

Ano

2018

Instituição

Fundação Getulio Vargas

Fonte

Repositório da FGV

Idioma

Inglês

Acesso

Acesso aberto

Identificador

oai:repositorio.fgv.br:10438/22989

Temas

EconomiaMobilidade

Palavras-chave

BankruptcyLabour marketCourt congestionLabour reallocationStructural changeBankruptcy reformRealocação de mão de obraMercado de trabalhoFinançasFalênciaMobilidade de mão-de-obraRecuperação econômica (Política econômica)Morosidade da justiça