DeakinDemetriadesJames0809.pdf (425.47 kB)
Creditor protection and banking system development in India
preprint
posted on 2009-11-12, 16:35 authored by Simon Deakin, Panicos Demetriades, Gregory JamesWe use a new legal dataset tracking changes in creditor protection law over several decades to study the impact of legal reforms on banking system development in India. Cointegration analysis is used to show that the strengthening of creditor rights in relation to the enforcement of security interests in the 1990s and 2000s led to an increase in bank credit. We show that the change in the law was not endogenous to trends in stock market development and GDP per capita, and that the direction of causation ran from legal reform to banking development, rather than the reverse.
History
School
- Business and Economics
Department
- Economics
Publisher
© Loughborough UniversityVersion
- VoR (Version of Record)
Publication date
2009Notes
This is a working paper. It is also available at: http://ideas.repec.org/p/lbo/lbowps/2009_12.htmlISSN
1750-4171Book series
Loughborough University. Department of Economics. Discussion Paper Series;WP 2009 - 12Language
- en