What Does Debt Relief Do for Development? Evidence from India’s Bailout Program for Highly-Indebted Rural Households

This paper studies the impact of a large debt relief program, intended to attenuate investment constraints among highly-indebted households in rural India. It isolates the causal effect of bankruptcy-like debt relief settlements using a natural exp...

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Bibliographic Details
Main Author:	Kanz, Martin
Format:	Policy Research Working Paper
Language:	English en_US
Published:	2013
Subjects:	ACCESS TO CREDIT ACCESS TO FINANCE ACCESS TO FORMAL CREDIT ACCESS TO SAVINGS AGRICULTURAL ACTIVITIES AGRICULTURAL CREDIT AGRICULTURAL DEBT AGRICULTURAL LOANS AGRICULTURAL SECTOR AMOUNT OF DEBT BAILOUT BAILOUTS BANK ACCOUNTS BANK BRANCH BANK BRANCHES BANK CREDIT BANK DEBT BANK FINANCING BANK LOAN BANK LOANS BANKRUPTCY BANKRUPTCY DECISION BANKRUPTCY LAWS BANKRUPTCY REGULATION BANKS BENEFICIARIES BENEFICIARY BORROWER BORROWER BEHAVIOR BORROWING CASH PAYMENTS CASH TRANSFERS CENTRAL BANK CHECKS COLLATERAL COMMERCIAL BANK COMMERCIAL BANKS CONDITIONAL DEBT CONSUMER BANKRUPTCY CONSUMER CREDIT CONSUMPTION EXPENDITURES COOPERATIVE BANK COOPERATIVE BANKS COOPERATIVES CORPORATE BORROWING CORRUPTION CREDIT CONSTRAINTS CREDIT CONTRACT CREDIT COOPERATIVE CREDIT COOPERATIVES CREDIT CULTURE CREDIT EXPANSION CREDIT MARKET CREDIT MARKETS CREDIT RATIONING CREDIT RELATIONSHIP CREDIT RELATIONSHIPS CREDITOR CREDITOR RIGHTS CREDITORS CREDITWORTHINESS CROP LOAN CROP LOANS CROP VALUE DEBT DEBT BURDEN DEBT CONTRACT DEBT CONTRACTS DEBT FORGIVENESS DEBT HOLDERS DEBT OVERHANG DEBT RECOVERY DEBT RELIEF DEBT RESTRUCTURING DEBT SERVICE DEBTORS DEBTS DECLINE IN INVESTMENT DEFAULTER DEFAULTERS DEFAULTS DEPENDENT DEVELOPING COUNTRIES DISBURSEMENT DISCRIMINATION DUMMY VARIABLE ECONOMIC DECISIONS EFFECT OF BANKRUPTCY EFFECT OF DEBT ELIGIBILITY CRITERIA ELIGIBLE DEBT EMERGING CREDIT EMERGING ¸ MARKETS ENFORCEABILITY ENFORCEABILITY OF DEBT CONTRACTS ENFORCEMENT OF LOAN ENFORCEMENT OF LOAN CONTRACTS EX-ANTE INCENTIVES EXISTING CREDIT EXISTING DEBT EXPENDITURE EXPENDITURES EXTERNAL BORROWING FACE VALUE FARM LOANS FARMER FARMERS FEDERAL RESERVE FINANCIAL ACCESS FINANCIAL INSTRUMENTS FINANCIAL POSITION FINANCIAL SERVICES FINANCIAL SUPPORT FINANCING REQUIREMENTS FORMAL LENDING FUTURE CREDIT GENDER GOVERNMENT INTERVENTIONS HOUSEHOLD DEBT HOUSEHOLD FINANCE HOUSEHOLD INCOME HOUSEHOLD INVESTMENT HOUSEHOLD WEALTH HOUSEHOLD WELFARE HOUSEHOLDS HUSBAND IMPACT OF DEBT INCOME SHOCKS INDEBTED INDEBTED HOUSEHOLDS INDEBTEDNESS INEQUALITY INFORMAL CREDIT INFORMAL FINANCING INFORMAL LENDERS INFORMAL LOANS INFORMAL SECTOR LENDERS INFORMATION ASYMMETRIES INSTITUTIONAL CREDIT INSTITUTIONAL LENDERS INSURANCE INTEREST RATE INTEREST RATES INTERNAL AUDITS INTERNAL FINANCING INTERNATIONAL BANK INTERNATIONAL DEVELOPMENT INVESTMENT BEHAVIOR INVESTMENT CHOICE INVESTMENT DECISION INVESTMENT DECISIONS INVESTMENT LOANS INVESTMENT OPPORTUNITIES INVESTMENT SPENDING LAND HOLDING LAND RECORDS LANDOWNERS LARGE DEBT LEGAL REFORM LENDER LENDERS LEVEL OF DEBT LINE OF CREDIT LIQUID ASSETS LIQUIDITY LIQUIDITY CONSTRAINTS LOAN LOAN AMOUNTS LOAN APPLICATIONS LOAN CATEGORY LOAN CHARACTERISTICS LOAN CONTRACTS LOAN REPAYMENT LOAN SIZE LOANS FROM BANKS LOANS FROM FRIENDS LOCAL BANK LOWER-INCOME BORROWERS MARKET DISCIPLINE MARKET DISTORTIONS MARKET FAILURES MICRO-ENTERPRISE MICRO-ENTREPRENEURS MICROCREDIT MICROENTERPRISES MICROFINANCE MONEYLENDERS MORAL HAZARD NATIONAL DEBT NEW BANK CREDIT OUTSTANDING BALANCE OUTSTANDING DEBT OUTSTANDING LOANS OVERDUE LOAN OWNERSHIP STRUCTURE PERSONAL BANKRUPTCY PHYSICAL CAPITAL POLITICAL ECONOMY POVERTIES PRIVATE CREDIT PRODUCTIVE INVESTMENT PRODUCTIVITY PROTECTION OF CREDITOR REPAYMENT REPAYMENT DIFFICULTIES REPAYMENT INCENTIVES RESERVE BANK RESIDUAL CLAIMANTS RETURN RETURNS REVOLVING LINE OF CREDIT RISK OF DEFAULT RISK OF FRAUD RURAL BANKS RURAL CREDIT SAVINGS ACCOUNTS SETTLEMENT SETTLEMENTS SOCIAL BANKING SOURCE OF INCOME SOURCES OF CREDIT SOVEREIGN DEBT SUPPLY OF CREDIT TOTAL DEBT TRANSPARENCY URBAN AREAS VALUE OF DEBT VILLAGE VILLAGES VOLATILE INCOMES
Online Access:	http://documents.worldbank.org/curated/en/2012/11/16920501/debt-relief-development-evidence-indias-bailout-program-highly-indebted-rural-households http://hdl.handle.net/10986/12110

Internet

http://documents.worldbank.org/curated/en/2012/11/16920501/debt-relief-development-evidence-indias-bailout-program-highly-indebted-rural-households
http://hdl.handle.net/10986/12110

What Does Debt Relief Do for Development? Evidence from India’s Bailout Program for Highly-Indebted Rural Households

Internet

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