Property Rights, Collateral, Creditor Rights, and Insolvency in East Asia
45 Pages Posted: 25 Mar 2009 Last revised: 21 Feb 2011
Date Written: August 1, 2007
This article examines the relationships within East Asia between economic development, governance, property rights, provisions for the deployment of collateral and the creation of secured financial transactions, and creditor rights and their relationship with insolvency. No sophisticated market economy or market-based financial system can exist without these prerequisites, regardless of indigenous or acquired national characteristics or the form manifested by that system. However, in no national case in East Asia can the legal, regulatory, or policy background be described as either complete or fully integrated.
Keywords: East Asia, property rights, collateral, secured transactions, creditor rights, insolvency
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