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      Insolvency and economic development: Regional variation and adjustment

      Fabling, Richard; Grimes, Arthur
      DOI
       10.1016/j.jeconbus.2005.02.005
      Link
       www.sciencedirect.com
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      Citation
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      Fabling, R. & Grimes, A. (2005). Insolvency and economic development: Regional variation and adjustment. Journal of Economics and Business, 57(4), 339-359.
      Permanent Research Commons link: https://hdl.handle.net/10289/8176
      Abstract
      We examine the determinants of forced insolvency in New Zealand. The study incorporates three key features. First, we use regional as well as national data. Second, we analyse the role of property prices, which influence collateral values. Third, we explain the rate of total forced insolvency including personal bankruptcies and involuntary company liquidations. Insolvencies are explained by economic activity, financial variables and collateral values. The interactions between economic activity, leverage and property price (collateral) shocks indicate that region-specific shocks can compound into significant localised economic cycles.
      Date
      2005
      Type
      Journal Article
      Publisher
      Elsevier
      Collections
      • Management Papers [1153]
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