For those who believe there is a need for major shake

Info iconThis preview shows page 1. Sign up to view the full content.

View Full Document Right Arrow Icon
This is the end of the preview. Sign up to access the rest of the document.

Unformatted text preview: al measure of company failure) has risen by about 20 per cent compared to the beginning of the 1990s, and the average size of failed companies’ liabilities has also increased, yet the liabilities of bankrupt corporations still represent only 2½ per cent of total corporate-sector funding. While the number of companies making restructuring announcements rose significantly in 1999, most of these contained few concrete details (OECD, 1999, p. 57) and may never be fully implemented. For those who believe there is a need for major shake-outs and the sweeping away of old practices, this is merely further evidence of the entrenched nature of the system. It may be that this represents the triumph of ‘immobilist’ politics (Stockwin, 1988) and vested interests standing in the way of change, as argued by Noguchi (1995, 1996) and Lincoln (1998). A more moderate view, typified by Carlile and Tilton (1998), is that the objectives of the deregulation and of the change so far promoted are distin...
View Full Document

This note was uploaded on 02/03/2014 for the course ECON 204 taught by Professor Devero during the Summer '13 term at American University of Sharjah.

Ask a homework question - tutors are online