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Banking Reform in India∗ - page 49 / 57

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0.082 *** (0.030)

0.031 (0.021)

0.073 *** (0.027)

0.021 (0.023)

0.009 (0.017)

0.020 (0.026)

-0.073 * (0.040)

-0.037 (0.031)

0.020 * (0.011)

-0.007 (0.008)

-0.007 (0.006)

Intere rate (residual)

Average loan size:

-24.753 **

-143.867 **

(10.332)

(69.784)

Small scale industry

Trade, transport and finance

Government creditc

Table 4: Estimate of the Causal Effect of Nationalization on Lending Estimate of Discontinuityb

1992

2000

Share of bank's credit to: Agriculture

Rural areas

Sources: Based on authors' calculations, using credit data from the 1992 and 2000 Basic Statistical Returns, from the Reserve Bank of India.

a The relationship between bank lending behavior and bank size was estimated according to the following equation:

i 1size i 1Nati 2Natb size b  i

Sizei is the log of the banks deposits in 1980, while Nati is a dummy

varaible taking the value of one if the bank was larger than the nationalization cutoff, and zero otherwise.

  • i is the estimated share of credit bank i lends to a specific sector, after

controlling for a district fixed effect. b The table presents the estimate and standard error of the discontinuity:

1 14. 5 2 c Figures for government lending in 2000 were not available.

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