NDLI: Bankrupt Households and Economic Crisis. Evidence from the Greek Courts

Content Provider	Springer Nature Link
Author	Marsellou, E. G. Bassiakos, Y. C.
Copyright Year	2015
Abstract	This paper investigates the profile of the Greek bankrupt households and is the first to deal with the bankrupt households in Greece utilizing court data from the judicial decisions according to the newly established personal Bankruptcy Law 3869/2010. We compare the characteristics of the bankrupt households drawn from the court data with those of a control group of households without financial difficulties constructed from the EU-SILC database. Our findings indicate that income and/or job loss, family breakup, and women with children are important characteristics related to bankruptcy. We also find that although the median of the household disposable income of the bankrupt households is lower than that of the households without financial difficulties, the former do not fall below the poverty line at a greater rate than the latter, in all household size instances. This finding is in line with the results of earlier studies indicating that bankruptcy is not a poor household’s issue. The results are confirmed using logistic regression relating the probability of bankruptcy to a set of socioeconomic measures.
Starting Page	41
Ending Page	62
Page Count	22
File Format	PDF
ISSN	01687034
Journal	Journal of Consumer Policy
Volume Number	39
Issue Number	1
e-ISSN	15730700
Language	English
Publisher	Springer US
Publisher Date	2015-12-21
Publisher Place	New York
Access Restriction	One Nation One Subscription (ONOS)
Subject Keyword	Bankrupt households Over-indebtedness Personal bankruptcy law Poverty Social Sciences Marketing Economic Policy Commercial Law
Content Type	Text
Resource Type	Article
Subject	Economics and Econometrics Business, Management and Accounting

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1	Ministry of Education (GoI), Department of Higher Education	Sanctioning Authority	https://www.education.gov.in/ict-initiatives
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3	National Digital Library of India Office, Indian Institute of Technology Kharagpur	The administrative and infrastructural headquarters of the project	Dr. B. Sutradhar bsutra@ndl.gov.in
4	Project PI / Joint PI	Principal Investigator and Joint Principal Investigators of the project	Dr. B. Sutradhar bsutra@ndl.gov.in Prof. Saswat Chakrabarti will be added soon
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