We investigate the effects of a large government-initiated debt relief program on ex-ante and ex post credit market efficiency. We use loan accounts data for a large sample of borrowers before and after a nation-wide debt relief program in India. Employing robust regression discontinuity design,...

Using official national-level survey data, we investigate the impact of a large debt waiver program in India on beneficiaries savings and consumption. We find that the household consumption level and pattern are unaffected by the waiver. Plausibly anticipating higher credit constraints in the...

We investigate the impact of a large scale debt waiver program for small agricultural borrowers in India on the short term and long term consumption levels of the beneficiaries. We obtain consumption data from three national level surveys conducted before and after the waiver by a federal...