Surviving debt and survival debt in times of lockdown

Isabelle Guérin, Sébastien Michiels (), Arnaud Natal, Christophe Nordman and Govindan Venkatasubramanian ()
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Sébastien Michiels: IFP - Institut Français de Pondichéry - MEAE - Ministère de l'Europe et des Affaires étrangères - CNRS - Centre National de la Recherche Scientifique, CNRS - Centre National de la Recherche Scientifique, CREST - Centre de Recherche en Économie et Statistique - ENSAI - Ecole Nationale de la Statistique et de l'Analyse de l'Information [Bruz] - X - École polytechnique - IP Paris - Institut Polytechnique de Paris - ENSAE Paris - École Nationale de la Statistique et de l'Administration Économique - IP Paris - Institut Polytechnique de Paris - CNRS - Centre National de la Recherche Scientifique
Govindan Venkatasubramanian: IFP - Institut Français de Pondichéry - MEAE - Ministère de l'Europe et des Affaires étrangères - CNRS - Centre National de la Recherche Scientifique

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Abstract: What are the consequences of the COVID-19 lockdown on household debt? Drawing on quantitative and qualitative data collected in rural Tamil Nadu, this paper highlights the massive risks of financial fragility. Quantitative data show a very high level of pre-COVID-19 debt, and the lockdown was accompanied by a large-scale suspension of repayments. At the same time, there was a halt to unsecured debt and an erosion of the trust that cements most transactions. Last, but not the least, the emergence of new forms of secured debt that seriously threaten household assets was observed.

Keywords: Debt; lockdown; caste; employment; India; Trust (search for similar items in EconPapers)
Date: 2022-01-01
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Published in Economic and political weekly, 2022, 57 (1), pp.41-49

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Persistent link: https://EconPapers.repec.org/RePEc:hal:journl:hal-03509592

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