TY - BOOK ID - 77883222 TI - Bankrupt AU - Halliday, Terence C AU - Carruthers, Bruce G PY - 2009 SN - 0804776288 9780804776288 9780804760744 0804760748 9780804760751 0804760756 PB - Stanford, Calif. Stanford University Press DB - UniCat KW - Bankruptcy. KW - Bankruptcy KW - Financial crises. KW - Crashes, Financial KW - Crises, Financial KW - Financial crashes KW - Financial panics KW - Panics (Finance) KW - Stock exchange crashes KW - Stock market panics KW - Crises KW - Cessio bonorum KW - Insolvency KW - Privileged debts KW - Business failures KW - Commercial law KW - Debt KW - International cooperation. KW - Law and legislation KW - Financial crises KW - 347.736 KW - AA / International- internationaal KW - International cooperation KW - wetgeving i.v.m. faillissementen. Uitstel van betaling KW - Bankruptcy - International cooperation UR - https://www.unicat.be/uniCat?func=search&query=sysid:77883222 AB - The Asian Financial Crisis dramatically illustrated the vulnerability of financial markets in emerging, transitional, and advanced economies. In response, international organizations insisted that legal reforms could help protect markets from financial breakdowns. Sitting at the nexus between the legal system and the market, corporate bankruptcy law ensures that the casualties of capitalism are treated in an orderly way. Halliday and Carruthers show how global actors—including the IMF, World Bank, UN, and international professional associations—developed comprehensive norms for corporate bankruptcy laws and how national policymakers responded in turn. Drawing on extensive fieldwork in China, Indonesia and Korea, the authors reveal how national policymakers contested and negotiated domestic laws in the context of global pressures. The first study of its kind, this book offers a theory of legal change to explain why global/local tensions produce implementation gaps. Through its analysis of globalization, this book has lessons for international organizations and developing and transition economies the world over. ER -