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The Impact of Bank Credit on Employment Formality: Evidence from Uruguay

Nestor Gandelman and Alejandro Rasteletti

Emerging Markets Finance and Trade, 2016, vol. 52, issue 7, 1661-1678

Abstract: This article examines the effect of bank credit on employment formalization in Uruguay. Using a difference-in-differences methodology the article finds that financial deepening decreases informality, especially in more financially dependent sectors. In addition, the effect is found to be greater among women and older workers. In the period under analysis the economy underwent a severe economic crisis and bank credit contracted sharply, but we find no evidence that the effect of bank credit on employment formality changed over time.

Date: 2016
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DOI: 10.1080/1540496X.2015.1024084

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Handle: RePEc:mes:emfitr:v:52:y:2016:i:7:p:1661-1678