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Surviving debt and survival debt in times of lockdown

Author

Listed:
  • Isabelle Guérin

    (CESSMA UMRD 245 - Centre d'études en sciences sociales sur les mondes africains, américains et asiatiques - IRD - Institut de Recherche pour le Développement - Inalco - Institut National des Langues et Civilisations Orientales - UPCité - Université Paris Cité, IFP - Institut Français de Pondichéry - MEAE - Ministère de l'Europe et des Affaires étrangères - CNRS - Centre National de la Recherche Scientifique, Princeton University)

  • Sébastien Michiels

    (IFP - Institut Français de Pondichéry - MEAE - Ministère de l'Europe et des Affaires étrangères - CNRS - Centre National de la Recherche Scientifique, CREST - Centre de Recherche en Économie et Statistique - ENSAI - Ecole Nationale de la Statistique et de l'Analyse de l'Information [Bruz] - Groupe ENSAE-ENSAI - Groupe des Écoles Nationales d'Économie et Statistique - X - École polytechnique - IP Paris - Institut Polytechnique de Paris - ENSAE Paris - École Nationale de la Statistique et de l'Administration Économique - Groupe ENSAE-ENSAI - Groupe des Écoles Nationales d'Économie et Statistique - IP Paris - Institut Polytechnique de Paris - CNRS - Centre National de la Recherche Scientifique)

  • Arnaud Natal

    (BSE - Bordeaux Sciences Economiques - UB - Université de Bordeaux - CNRS - Centre National de la Recherche Scientifique, IFP - Institut Français de Pondichéry - MEAE - Ministère de l'Europe et des Affaires étrangères - CNRS - Centre National de la Recherche Scientifique)

  • Christophe Jalil Nordman

    (IFP - Institut Français de Pondichéry - MEAE - Ministère de l'Europe et des Affaires étrangères - CNRS - Centre National de la Recherche Scientifique, LEDA-DIAL - Développement, Institutions et Mondialisation - LEDa - Laboratoire d'Economie de Dauphine - IRD - Institut de Recherche pour le Développement - Université Paris Dauphine-PSL - PSL - Université Paris Sciences et Lettres - CNRS - Centre National de la Recherche Scientifique, IC Migrations - Institut Convergences Migrations - French Collaborative Institute on Migration [Aubervilliers])

  • Govindan Venkatasubramanian

    (IFP - Institut Français de Pondichéry - MEAE - Ministère de l'Europe et des Affaires étrangères - CNRS - Centre National de la Recherche Scientifique)

Abstract

What are the consequences of the COVID-19 lockdown on household debt? Drawing on quantitative and qualitative data collected in rural Tamil Nadu, this paper highlights the massive risks of financial fragility. Quantitative data show a very high level of pre-COVID-19 debt, and the lockdown was accompanied by a large-scale suspension of repayments. At the same time, there was a halt to unsecured debt and an erosion of the trust that cements most transactions. Last, but not the least, the emergence of new forms of secured debt that seriously threaten household assets was observed.

Suggested Citation

  • Isabelle Guérin & Sébastien Michiels & Arnaud Natal & Christophe Jalil Nordman & Govindan Venkatasubramanian, 2022. "Surviving debt and survival debt in times of lockdown," Post-Print hal-03509592, HAL.
    • Handle: RePEc:hal:journl:hal-03509592
    Note: View the original document on HAL open archive server: https://hal.science/hal-03509592v2
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    References listed on IDEAS

    as
    1. Christophe Jalil Nordman & Isabelle Guérin & Govindan Venkatasubramanian & Sébastien Michiels & Youna Lanos & Santosh Kumar & A. Antony Raj & Anne Hilger & Arnaud Natal, 2017. "NEEMSIS-1 Survey Manual [Manuel d'enquête NEEMSIS-1]," Working Papers hal-03751302, HAL.
    2. Isabelle Guérin & Govindan Venkatasubramanian & Santosh Kumar, 2020. "Rethinking saving: Indian ceremonial gifts as relational and reproductive saving," Journal of Cultural Economy, Taylor & Francis Journals, vol. 13(4), pages 387-401, July.
    3. Dean Karlan & Aishwarya Lakshmi Ratan & Jonathan Zinman, 2014. "Savings by and for the Poor: A Research Review and Agenda," Review of Income and Wealth, International Association for Research in Income and Wealth, vol. 60(1), pages 36-78, March.
    4. Chi Huu Nguyen & Christophe J. Nordman, 2018. "Household Entrepreneurship and Social Networks: Panel Data Evidence from Vietnam," Journal of Development Studies, Taylor & Francis Journals, vol. 54(4), pages 594-618, April.
    5. Hadrien Saiag, 2020. "Financialization from the margins," Post-Print hal-02516543, HAL.
    6. Jann Goedecke & Isabelle Guérin & Bert d'Espallier & Govindan Venkatasubramanian, 2017. "Why Do Financial Inclusion Policies Fail in Mobilizing Savings from the Poor? Lessons from Rural South India," Post-Print hal-01556655, HAL.
    7. Hilger, Anne & Nordman, Christophe Jalil, 2020. "The Determinants of Trust: Evidence from Rural South India," IZA Discussion Papers 13150, IZA Network @ LISER.
    8. Dean Karlan & Aishwarya Lakshmi Ratan & Jonathan Zinman, 2014. "Savings by and for the Poor: A Research Review and Agenda," Review of Income and Wealth, International Association for Research in Income and Wealth, vol. 60(1), pages 36-78, March.
    9. Elena Reboul & Isabelle Guérin & Antony Raj & G. Venkatasubramanian, 2019. "Managing Economic Volatility. A Gender Perspective," Working Papers CEB 19-015, ULB -- Universite Libre de Bruxelles.
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    Cited by:

    1. Arnaud Natal & Christophe Jalil Nordman, 2025. "Psychology of Debt in Rural South India," Journal of Development Studies, Taylor & Francis Journals, vol. 61(7), pages 1042-1057, July.
    2. Christophe Jalil Nordman & Govindan Venkatasubramanian & Isabelle Guérin & Arnaud Natal & Cécile Mouchel & Sébastien Michiels & Mary Di Santolo, 2025. "Networks, Employment, Debt, Mobilities, and Skills in India Survey (NEEMSIS): A Longitudinal Data Collection Tool [Enquête NEEMSIS (Networks, employment, debt, mobilities, and skills in India survey) : Un outil novateur de collecte de données long," Post-Print hal-05515015, HAL.
    3. Isabelle Guérin & Cécile Mouchel & Christophe Jalil Nordman, 2023. "With a Little Help from My Friends? Surviving the Lockdown Using Social Networks in Rural South India," Working Papers DT/2023/02, DIAL (Développement, Institutions et Mondialisation).
    4. A. Natal & Christophe Nordman, 2025. "She works hard for the money : debt burden and labour supply in India," Working Papers hal-05421965, HAL.

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