Judicial Risk and Credit Market Performance: Micro Evidence from Brazilian Payroll Loans

Costa, Ana Carla Abrão; Mello, João Manoel Pinho de

doi:10.3386/w12252

Cited by 19 publications

(24 citation statements)

References 17 publications

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“…In December 2004, personal loans already represented the largest share of bank loans, with a larger share even than industrial credit (Costa & Mello, 2006).…”

Section: Evolution Of Personal Credit In Brazilmentioning

confidence: 99%

Payroll Loans and Its Relationship With the Aggregate Economic Activity (2004-2014)

Schuh

Coronel

Filho

2017

RAM, Rev. Adm. Mackenzie

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Este artigo pode ser copiado, distribuído, exibido, transmitido ou adaptado desde que citados, de forma clara e explícita, o nome da revista, a edição, o ano e as páginas nas quais o artigo foi publicado originalmente, mas sem sugerir que a RAM endosse a reutilização do artigo. Esse termo de licenciamento deve ser explicitado para os casos de reutilização ou distribuição para terceiros. Não é permitido o uso para fins comerciais. Originality/gap/relevance/implications: Payroll loans are very representative in the Brazilian credit market, and the discussion on this topic is very extensive, because it is directly linked to the economic growth of a country. However, there is a gap in the literature on this subject, since most studies stress behavioral finances, or the legal aspects of contracts, and also because this type of credit is recent in the Brazilian economy. Key methodological aspects: This is quantitative approach performed through the estimation of the Vector Error Correction Model (VECM), which enabled the computation of impulse-response functions, the variance decomposition and the Granger causality test. PAYROLL LOANS AND ITS1678-6971 (electronic version) • http://dx.doi.org/10.1590/1678-69712017/administracao.v18n1p148-173. Submission: Jan. 20, 2016. Acceptance: Oct. 23, 2016. Evaluation system: double blind review. UNIVERSIDADE PRESBITERIANA MACKENZIE. Silvio Popadiuk (Editor), João Paulo Torre Vieito (Associate Editor), p. 148-173. Summary of key results:The results indicate that the granting of payroll loans causes an increase on macroeconomic aggregates in the short term, but over longer periods of time this increase tends to be eliminated. Key considerations/conclusions: The granting of payroll loans influences the behavior of the economic activity. However, despite the fact that its concession provides leverage in the short term, this growth is not sustainable in the long-term. In this scenario, there is exponential growth in household consumption over the past decade; however, the industry productivity and the investments did not follow this evolution. It is inferred from this that the current growth model generates expansion, but its effects are limited.

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“…In December 2004, personal loans already represented the largest share of bank loans, with a larger share even than industrial credit (Costa & Mello, 2006).…”

Section: Evolution Of Personal Credit In Brazilmentioning

confidence: 99%

Payroll Loans and Its Relationship With the Aggregate Economic Activity (2004-2014)

Schuh

Coronel

Filho

2017

RAM, Rev. Adm. Mackenzie

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“…Consequently, crime would increase the marginal bene…t of savings. As the Brazilian credit market is underdeveloped, household savings represents the primary means for individuals to relocate their place of residence (for an overview of the Brazilian credit market, see Costa and De Mello, 2006).…”

Section: Crime and Relocationmentioning

confidence: 99%

Does Crime Affect Economic Decisions? An Empirical Investigation of Savings in a High-Crime Environment

Mello¹,

Zilberman²

2008

The B.E. Journal of Economic Analysis &Amp; Policy

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“…Tables 2.12 to 2.14 present second stage results, while first stage results are equivalent to the reduced-form regression in which the dependent variable is the instrumented variable. 11 We find that a 1% increase in the number of sentences leads to a 0.95% decrease in homicide rates, a slightly larger absolute value than the OLS coefficient. This estimate is significant at the 5% level for bandwidths equal to 40% or lower and similar, but is not significant at the 5% level for the other bandwidths.…”

Section: Resultsmentioning

confidence: 84%

“…(5) and (4) argue that the improvement of judicial system affects firm size and performance. (9) and (10) show that it stimulates entrepreneurship and (11) show that it stimulates the credit market performance. Furthermore, (12); (13) demonstrate that the certainty of punishment can reduce crimes in Latin America.…”

Section: Introductionmentioning

confidence: 99%

Essays on Crime and Justice

SCHIAVON¹

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Judicial Risk and Credit Market Performance: Micro Evidence from Brazilian Payroll Loans

Cited by 19 publications

References 17 publications

Payroll Loans and Its Relationship With the Aggregate Economic Activity (2004-2014)

Payroll Loans and Its Relationship With the Aggregate Economic Activity (2004-2014)

Does Crime Affect Economic Decisions? An Empirical Investigation of Savings in a High-Crime Environment

Essays on Crime and Justice

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