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Judicial Costs and Household Debt

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Author Info
Daniela Fabbri () (Universitat Pompeu Fabra and CSEF, Università di Salerno)
Mario Padula () (CSEF, University of Salerno, and University College London)

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Abstract

This paper investigates the effect of judicial costs on households debt, merging data drawn from a representative Italian sample, the Survey of Household Income and Wealth, with data on the performance of judicial districts. We estimate a probit model to test the hypothesis that th working of courts affects the probability that households are credit constrained. Moreover, we estimate a tobit model for the amount of debt to investigate if borrowing by those who are not rationed in the credit market is also sensitive to judicial costs. We find that the working of the judicial system impacts on probability of being credit constrained and that the amount of debt held by non-constrained households decreases when the quality of the judicial enforcement worsen.

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Publisher Info
Paper provided by Centre for Studies in Economics and Finance (CSEF), University of Naples, Italy in its series CSEF Working Papers with number 65.

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Date of creation: 01 Aug 2001
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Publication status: Published in Journal of Banking and Finance, 2004 vol. 28, pages 2369-97
Handle: RePEc:sef:csefwp:65

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  1. Magda Bianco & Tullio Jappelli & Marco Pagano, 2001. "Courts and Banks: Effects of Judicial Enforcement on Credit Markets," CSEF Working Papers 58, Centre for Studies in Economics and Finance (CSEF), University of Naples, Italy. [Downloadable!]
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  2. Issam Hallak, 2003. "Courts and Sovereign Eurobonds: Credibility of the Judicial Enforcement of Repayment," CFS Working Paper Series 2003/34, Center for Financial Studies. [Downloadable!]
  3. Luca Casolaro & Leonardo Gambacorta & Luigi Guiso, 2005. "Regulation, formal and informal enforcement and the development of the household loan market. Lessons from Italy," Temi di discussione (Economic working papers) 560, Bank of Italy, Economic Research Department. [Downloadable!]
  4. Silvia Magri, 2002. "Italian households' debt: determinants of demand and supply," Temi di discussione (Economic working papers) 454, Bank of Italy, Economic Research Department. [Downloadable!]
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This page was last updated on 2009-12-21.


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