Учебный год 2023 / phd
.pdfconsideration as case studies for SSA countries, especially those which do not yet have an effective cross-border insolvency system. Further research may entail consideration of the following areas:
Firstly, conducting similar research with a specific focus in other countries in SSA. Secondly, as SSA countries’ insolvency laws (no matter how archaic they are/were) have not been in use due to various theories considered in this thesis, further research could look at the practices that have, or had, been in use as an alternative to formal insolvency law. This could provide a deep insight into additional aspects that need to be considered in undertaking reform. Thirdly, as the effectiveness of insolvency laws depends on the institutional framework in which it is being used and enforced, the emerging trend of reform in SSA can be considered in future research in light of the suitability of the existing institutional framework in which the reformed law is to operate. Fourthly, as most of banks that operate in SSA countries are affiliated to foreign banks in the UK and France, there could be some merits in future research to look at the SSA legislative approaches to bank insolvencies in relation to the existing international practices and the experiences in the countries from which such banks have connections. Such line of research is critical given the recent bank crisis and as bank insolvency was not within the scope of this study. Fifthly, research can also be conducted on cross-border insolvency challenges involved in the emerging cross-border co-operation in trade and investment between SSA countries and emerging markets such as China, India and others. Such research may help bring into light issues involved and how they can be addressed. This is particularly important given the fact that statistically the cross-border cooperation between SSA countries and emerging economies has for decades now been on a sharp rise to the extent of threatening the future well-being of the traditional commercial links that have been in place between SSA and developed economies. The last area for further research is on the adoption and use of the Model Law as a regional instrument as discussed and recommended in this study. This area can be looked at alongside the issue as to whether or not the Model
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Law or other international insolvency benchmarks might need to be amended to clearly reflect this idea.
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