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UID:733f0d3cf65fdff6a691e544c202003a
CATEGORIES:Seminars
CREATED:20170426T190747
SUMMARY:Alberto Manconi - Bocconi University
DESCRIPTION;ENCODING=QUOTED-PRINTABLE:<p style="text-align: justify;"><strong>Credit, Labor, and Political Unrest
 : Evidence from 1930s China </strong> (with Fabio Braggion and Haikun Zhu)<
 /p><p style="text-align: justify;">Abstract:<br /> Can tight credit inflame
  political unrest? We study a natural experiment from 1930s China, where th
 e 1933 U.S. Silver Purchase program acts as a shock to bank lending. We ass
 emble a novel, hand-collected dataset of loan contracts to individual firms
 , labor unrest episodes, and support for the underground Communist Party. W
 e show that the Silver Purchase shock results in a severe credit contractio
 n, and that firms borrowing from banks with a larger exposure to the shock 
 experience increased labor unrest and Communist Party penetration among the
 ir workers. These findings contribute to understanding the (unintended) soc
 io-political consequences of credit.</p>
DTSTAMP:20260405T194527Z
DTSTART:20170406T173000Z
DTEND:20170406T190000Z
SEQUENCE:0
TRANSP:OPAQUE
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