Legal Reform and Loan Repayment: The Microeconomic Impact of Debt Recovery Tribunals in India
利用印度各州分阶段设立债务追偿法庭的数据，研究发现法庭使平均贷款违约率降低28%，并降低了大型贷款的利率，表明加快债务追偿能降低信贷成本。
In 1993, the Indian government introduced debt recovery tribunals to speed up the resolution of debt recovery claims larger than a threshold. This paper exploits the staggered introduction of tribunals across states and the link between overdues and claim size to implement a differences-in-differences strategy on project loan data. It finds that the tribunals reduced delinquency for the average loan by 28 percent. They also lowered the interest rates charged on larger loans, holding constant borrower quality. This suggests that the speedier processing of debt recovery suits can lower the cost of credit.