Bankruptcy Policy — An Instrument for the Economic Recovery from the COVID Crises

Abstract: The main objective of this study is to analyze the “pieces” that support the construction of a bankruptcy policy, aiming to identify those that allow building a bankruptcy policy which will help in the recovery from the economic COVID crisis, as well as to build a winning policy in the economic competition between countries. 

To promote this purpose is observed the impact of bankruptcy policy on the entire economic cycle, allowing to understand that, more than intervening companies at the “end of life”, bankruptcy policy impacts on the everyday life of a company, even before its establishment. 

Subsequently, identifying the characteristics of the ex ante, interim, and ex post efficiencies of a bankruptcy policy, it is analyzed how it can be built one aiming at its maximum efficiency. 

Finally, the main variables of bankruptcy policy are analyzed, aiming to understand its real implications, sometimes even dual, in the efficiency of this policy.

Key words: bankruptcy; insolvency; bankruptcy policy; bankruptcy efficiency; legal efficiency

         JEL codes: E61, G32, G33, L38, O29