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Loan Waivers as Fresh Start in Bankruptcy
[journal article]
Abstract Farmer distress is in the news again. The causes of distress may be many - ranging from low productivity on small and marginal farms, crop failure due to weather fluctuations, to low market price due to a bumper harvest. The usual policy response, however, seems to be a loan-waiver announcement. For... view more
Farmer distress is in the news again. The causes of distress may be many - ranging from low productivity on small and marginal farms, crop failure due to weather fluctuations, to low market price due to a bumper harvest. The usual policy response, however, seems to be a loan-waiver announcement. For example, several loan-waivers were announced in the second half of 2017. The stated rationale for loan-waivers is that if debt burdens are alleviated in this one instance, then it provides consumption relief and makes it possible to start the next farming season in a clean state. The assumption seems to be that the problems that caused distress this season, will somehow, not manifest themselves again.... view less
Keywords
India; agriculture; farmer; insolvency; lending; indebtedness; South Asia
Classification
Public Finance
Free Keywords
Bankruptcy
Document language
English
Publication Year
2018
Page/Pages
5 p.
Journal
IndraStra Global, 4 (2018) 3
ISSN
2381-3652
Status
Published Version; peer reviewed
Licence
Creative Commons - Attribution-Noncommercial-No Derivative Works 4.0