| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w17858 |
| 来源ID | Working Paper 17858 |
| Repossession and the Democratization of Credit | |
| Juliano J. Assunção; Efraim Benmelech; Fernando S. S. Silva | |
| 发表日期 | 2012-02-23 |
| 出版年 | 2012 |
| 语种 | 英语 |
| 摘要 | We exploit a 2004 credit reform in Brazil that simplified the sale of repossessed cars used as collateral for auto loans. We show that the change has led to larger loans with lower spreads and longer maturities. The reform expanded credit to riskier, low-income borrowers for newer, more expensive cars. Although the credit reform improved riskier borrowers' access to credit, it also led to increased incidences of delinquency and default. Our results shed light on the consequences of a credit reform, highlighting the crucial role that collateral and repossession play in the liberalization and democratization of credit. |
| 主题 | Financial Economics ; Financial Institutions ; Other ; Law and Economics |
| URL | https://www.nber.org/papers/w17858 |
| 来源智库 | National Bureau of Economic Research (United States) |
| 引用统计 | |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/575533 |
| 推荐引用方式 GB/T 7714 | Juliano J. Assunção,Efraim Benmelech,Fernando S. S. Silva. Repossession and the Democratization of Credit. 2012. |
| 条目包含的文件 | ||||||
| 文件名称/大小 | 资源类型 | 版本类型 | 开放类型 | 使用许可 | ||
| w17858.pdf（256KB） | 智库出版物 | 限制开放 | CC BY-NC-SA | 浏览 | ||
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