A Policy of Credit Disruption: The Punjab Land Alienation Act of 1900

34 Pages Posted: 18 Dec 2018

See all articles by Latika Chaudhary

Latika Chaudhary

Naval Postgraduate School

Anand Swamy

Williams College

Date Written: October 2018

Abstract

If land is titled and transferable, it can be used as collateral against which money can be borrowed. The resulting increase in access to credit is usually expected to foster economic growth. We study a policy in colonial India that made land less available as collateral for debt. Using a panel dataset for Punjab districts from 1890 to 1910, we find that this reduced the availability of mortgage-backed credit, but did not hurt proxies for economic development such as acreage and cattle, at least in the short run.

Keywords: Credit Markets, Agriculture, Colonial India, Punjab

JEL Classification: G1, K1, K4, N2, N4

Suggested Citation

Chaudhary, Latika and Swamy, Anand V., A Policy of Credit Disruption: The Punjab Land Alienation Act of 1900 (October 2018). Available at SSRN: https://ssrn.com/abstract=3293889 or http://dx.doi.org/10.2139/ssrn.3293889

Latika Chaudhary (Contact Author)

Naval Postgraduate School ( email )

1 University Circle
Monterey, CA 93043
United States

Anand V. Swamy

Williams College ( email )

Williamstown, MA 01267
United States

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