Tag
debt_repayment
2 findings
DevelopmentImmediate Credit & Consumption ResponseWithin three days of early payment, workers were 40 percentage points more likely to pay off loans or credits (a 222 percent increase from an 18 percent baseline). Food expenditures increased 25 percent from a baseline of INR 270 ($4.17 USD), and general expenditures increased 65 percent from a baseline of INR 573 ($8.84 USD).RCTFinance & microfinanceOvernight Debt Deleveraging BehaviorOn the exact day cash was received, loan payments increased by Rs. 169 (746% increase, p<0.001); over 3 days, treated workers increased debt repayments by Rs. 271 (287% increase, p<0.001) and were 40 percentage points (222%) more likely to pay off outstanding credit.RCT