The Effect of Economic Crisis on Eastern European Insolvency

More and more insolvency cases are opened in the eastern European countries lately and this is not a result of only the economic crisis. This paper aims to statistically analyze the evolution of the number of insolvent companies in eastern European countries and the evolution of the insolvency rate of the same countries. We will focus on identifying the differences between 11 eastern European countries related to the two indicators. The analysis will be made by considering the 2004-2010 periods. The results will indicate which are the eastern European countries that should consider modifying their proceedings in order to better adapt to the economic environment.