The Impact of Regulation on Mortgage Risk: Evidence from India

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The Impact of Regulation on Mortgage Risk: Evidence from India

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Title: The Impact of Regulation on Mortgage Risk: Evidence from India
Author: Campbell, John Y.; Ramadorai, Tarun; Ranish, Benjamin

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Citation: Campbell, John Y., Tarun Ramadorai, and Benjamin Ranish. 2015. “ The Impact of Regulation on Mortgage Risk: Evidence from India.” American Economic Journal: Economic Policy 7, no. 4: 71–102. doi:10.1257/pol.20130220.
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Abstract: We employ loan-level data on over a million loans disbursed in India between 1995 and 2010 to understand how fast-changing regulation impacted mortgage lending and risk. Our paper uses changes in regulatory treatment discontinuities associated with loan size and leverage to detect regulation-induced loan delinquencies. We also find that an acceleration in the classification of assets as nonperforming resulted in substantially lower delinquency probabilities and losses given delinquency.
Published Version: 10.1257/pol.20130220
Terms of Use: This article is made available under the terms and conditions applicable to Open Access Policy Articles, as set forth at http://nrs.harvard.edu/urn-3:HUL.InstRepos:dash.current.terms-of-use#OAP
Citable link to this page: http://nrs.harvard.edu/urn-3:HUL.InstRepos:34331451
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