How Do Regulators Influence Mortgage Risk: Evidence from an Emerging Market
John Campbell (),
Tarun Ramadorai () and
No 18394, NBER Working Papers from National Bureau of Economic Research, Inc
To understand the effects of regulation on mortgage risk, it is instructive to track the history of regulatory changes in a country rather than to rely entirely on cross- country evidence that can be contaminated by unobserved heterogeneity. However, in developed countries with fairly stable systems of financial regulation, it is difficult to track these effects. We employ loan-level data on over a million loans disbursed in India over the 1995 to 2010 period to understand how fast-changing regulation impacted mortgage lending and risk. We use cross-sectional differences in the time- series variation of delinquency rates, conditional on initial interest rates, to detect the effects of regulation on mortgage delinquencies.
JEL-codes: G21 (search for similar items in EconPapers)
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Working Paper: How Do Regulators Influence Mortgage Risk? Evidence from an Emerging Market (2012)
Working Paper: How Do Regulators Influence Mortgage Risk: Evidence from an Emerging Market (2012)
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Persistent link: https://EconPapers.repec.org/RePEc:nbr:nberwo:18394
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