EuroEconomica, Vol 31, No 4 (2012)

Abstract

The purpose of this article is to present the evolution of the phenomenon of insolvency in post communist Romania. An important feature of a market economy it is the active selection mechanism by which solid and efficient firms supersede the least effective and the goods and new activities to replace the old. Present article attempts describes the provisions of the Romanian insolvency law, is investigating the facts existing and possible remedies that could lead to increased competitiveness and functionality of the Romanian economy.