Search Result

Annual Conference

|

Corporate Finance

|

May 2019

Can Technology Undermine Macroprudential Regulation? Evidence from Peer-to-Peer Credit in China

Alberto MANCONI, Fabio BRAGGION, Haikun ZHU
We study whether and to what extent peer-to-peer (P2P) credit helps circumvent loan-tovalue (LTV) caps, a key macroprudential tool to contain household leverage. We exploit the tightening of mortgage LTV caps in a number of cities in China in 2013 as our testing ground, in a difference-in-difference...
Keywords: peer-to-peer credit, household leverage, macroprudential regulation, loan-tovalue caps
  • View
  • Download
  • Bookmark
  •    |   

Annual Conference

|

Corporate Finance

|

May 2015

International Liquidity Shocks, the Real Economy, and Social Unrest: China, 1931-1935

Alberto MANCONI, Fabio BRAGGION, Haikun ZHU
What are the social consequences of liquidity shocks? We answer this question relying on a natural experiment from 1930s China, where the money supply contracted as a consequence of the 1933 US Silver Purchase program. Using a novel, hand-collected data set of loan contracts to individual Chinese fi...
Keywords: Silver Purchase program, bank liquidity, social unrest
  • View
  • Download
  • Bookmark
  •    |