Replication data for: Debt Traps? Market Vendors and Moneylender Debt in India and the Philippines
Principal Investigator(s): View help for Principal Investigator(s) Dean Karlan; Sendhil Mullainathan; Benjamin N. Roth
Version: View help for Version V1
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Project Citation:
Karlan, Dean, Mullainathan, Sendhil, and Roth, Benjamin N. Replication data for: Debt Traps? Market Vendors and Moneylender Debt in India and the Philippines. Nashville, TN: American Economic Association [publisher], 2019. Ann Arbor, MI: Inter-university Consortium for Political and Social Research [distributor], 2019-12-07. https://doi.org/10.3886/E116321V1
Project Description
Summary:
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A debt trap occurs when someone takes on a high-interest-rate loan and is barely able to pay back the interest, and thus perpetually finds themselves in debt (often by refinancing). Studying such practices is important for understanding financial decision-making of households in dire circumstances, and also for setting appropriate consumer protection policies. We conduct a simple experiment in three sites in which we paid off high-interest moneylender debt of individuals. Most borrowers returned to debt within six weeks. One to two years after intervention, treatment individuals were borrowing at the same rate as control households.
Scope of Project
JEL Classification:
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D14 Household Saving; Personal Finance
D18 Consumer Protection
D91 Micro-Based Behavioral Economics: Role and Effects of Psychological, Emotional, Social, and Cognitive Factors on Decision Making
D14 Household Saving; Personal Finance
D18 Consumer Protection
D91 Micro-Based Behavioral Economics: Role and Effects of Psychological, Emotional, Social, and Cognitive Factors on Decision Making
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