This paper studies the credit market implications and real effects of one the largest borrower bailout programs in history, enacted by the government of India against the backdrop of the 2008-2009 financial crisis. The study finds that the stimulus program had no effect on productivity, wages, or consumption, but led to significant changes in credit allocation and an increase in defaults. Post-program loan performance declines faster in districts...
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ПОДРОБНАЯ ИНФОРМАЦИЯ
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2014/11/01
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Рабочий документ в рамках исследования вопросов политики
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WPS7109
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1
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1
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2014/11/01
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Disclosed
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The economic effects of a borrower bailout : evidence from an emerging market
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credit market
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ПОЛНЫЙ ОТЧЕТ
Официальная версия документа (может содержать подписи, и т.д.)