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UID:733f0d3cf65fdff6a691e544c202003a
CATEGORIES:Seminars
CREATED:20170426T190747
SUMMARY:Alberto Manconi - Bocconi University
DESCRIPTION;ENCODING=QUOTED-PRINTABLE:Credit, Labor, and Political Unrest: Evidence from 1930s China  (with Fabio
  Braggion and Haikun Zhu)\nAbstract:\n Can tight credit inflame political u
 nrest? We study a natural experiment from 1930s China, where the 1933 U.S. 
 Silver Purchase program acts as a shock to bank lending. We assemble a nove
 l, hand-collected dataset of loan contracts to individual firms, labor unre
 st episodes, and support for the underground Communist Party. We show that 
 the Silver Purchase shock results in a severe credit contraction, and that 
 firms borrowing from banks with a larger exposure to the shock experience i
 ncreased labor unrest and Communist Party penetration among their workers. 
 These findings contribute to understanding the (unintended) socio-political
  consequences of credit.\n
DTSTAMP:20260405T194434Z
DTSTART:20170406T173000Z
DTEND:20170406T190000Z
SEQUENCE:0
TRANSP:OPAQUE
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