The Economic Effects of a Borrower Bailout: Evidence from an Emerging Market
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 co...
Gespeichert in:
| 1. Verfasser: | |
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| Format: | Elektronisch E-Book |
| Sprache: | English |
| Veröffentlicht: |
Washington, D.C
The World Bank
2014
|
| Online-Zugang: | Volltext |
| Zusammenfassung: | 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 with greater exposure to the program, an effect that is not driven by greater risk-taking of banks. Loan defaults become significantly more sensitive to the electoral cycle after the program, suggesting the anticipation of future credit market interventions as an important channel through which moral hazard in loan repayment is intensified |
| Beschreibung: | 1 Online-Ressource (56 p) |
| DOI: | 10.1596/1813-9450-7109 |
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| illustrated | Not Illustrated |
| index_date | 2024-07-03T19:59:54Z |
| indexdate | 2025-02-20T07:19:12Z |
| institution | BVB |
| language | English |
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| physical | 1 Online-Ressource (56 p) |
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| publishDate | 2014 |
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| publisher | The World Bank |
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| spellingShingle | Giné, Xavier The Economic Effects of a Borrower Bailout Evidence from an Emerging Market |
| title | The Economic Effects of a Borrower Bailout Evidence from an Emerging Market |
| title_auth | The Economic Effects of a Borrower Bailout Evidence from an Emerging Market |
| title_exact_search | The Economic Effects of a Borrower Bailout Evidence from an Emerging Market |
| title_exact_search_txtP | The Economic Effects of a Borrower Bailout Evidence from an Emerging Market |
| title_full | The Economic Effects of a Borrower Bailout Evidence from an Emerging Market Giné, Xavier |
| title_fullStr | The Economic Effects of a Borrower Bailout Evidence from an Emerging Market Giné, Xavier |
| title_full_unstemmed | The Economic Effects of a Borrower Bailout Evidence from an Emerging Market Giné, Xavier |
| title_short | The Economic Effects of a Borrower Bailout |
| title_sort | the economic effects of a borrower bailout evidence from an emerging market |
| title_sub | Evidence from an Emerging Market |
| url | https://doi.org/10.1596/1813-9450-7109 |
| work_keys_str_mv | AT ginexavier theeconomiceffectsofaborrowerbailoutevidencefromanemergingmarket AT kanzmartin theeconomiceffectsofaborrowerbailoutevidencefromanemergingmarket |