Creditor Protection and Banking System Development in India
Panicos Demetriades () and
Gregory James ()
No 08/25, Discussion Papers in Economics from Division of Economics, School of Business, University of Leicester
We 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.
Keywords: creditor rights; legal origin; banking development; India (search for similar items in EconPapers)
JEL-codes: G21 G38 K22 O16 (search for similar items in EconPapers)
New Economics Papers: this item is included in nep-ban, nep-cwa and nep-dev
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Journal Article: Creditor protection and banking system development in India (2010)
Working Paper: Creditor Protection and Banking System Development in India (2009)
Working Paper: Creditor Protection and Banking System Development in India (2008)
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