|based on the<br>to be that he<br>ned in Table<br>ks. Standard<br>Informal<br>lenders<br>(12)|0.17**<br>[0.07]<br>2,393<br>0.35<br>0.23<br>[0.18]<br>1,522<br>0.37<br>0.27***<br>[0.07]<br>1,759<br>0.37<br>Yes<br>Yes<br>No<br>No<br>Yes|
|---|---|
|iable is is<br>es he have<br>are as def<br>erative ban<br> <br>Banks<br>(11)|0.32+<br>[0.18]<br>2,436<br>0.41<br>0.38+<br>[0.19]<br>1,547<br>0.42<br>0.18<br>[0.19]<br>1,791<br>0.44<br>Yes<br>Yes<br>No<br>No<br>Yes|
|pendent var<br>worried do<br>xed effects<br>from coop<br>Model 4<br>Overall<br>(10)|0.25**<br>[0.10]<br>2,386<br>0.44<br>0.31**<br>[0.13]<br>1,518<br>0.46<br>0.23**<br>[0.11]<br>1,752<br>0.47<br>Yes<br>Yes<br>No<br>No<br>Yes|
|s to Credit?<br>ssion. The de<br>stances, how<br>controls and f<br>one for loans<br>Informal<br>lenders<br>(9)|0.14+<br>[0.07]<br>2,274<br>0.35<br>0.18<br>[0.19]<br>1,446<br>0.37<br>0.23**<br>[0.10]<br>1,661<br>0.37<br>Yes<br>Yes<br>Yes<br>Yes<br>No|
|re Acces<br>arate regre<br>een circum<br>additional<br>le equal to<br>Banks<br>(8)|0.39**<br>[0.18]<br>2,317<br>0.43<br>0.47**<br>[0.20]<br>1,472<br>0.43<br>0.26<br>[0.19]<br>1,693<br>0.45<br>Yes<br>Yes<br>Yes<br>Yes<br>No|
|ions of Futu<br>presents a sep<br>r other unfores<br>worried). All<br>dummy variab<br>Model 3<br>Overall<br>(7)|0.27***<br>[0.10]<br>2,269<br>0.45<br>0.34***<br>[0.13]<br>1,443<br>0.48<br>0.26**<br>[0.11]<br>1,656<br>0.47<br>Yes<br>Yes<br>Yes<br>Yes<br>No|
|e Expectat<br>ch column re<br>ad harvest o<br>all) to 5 (very<br>status and a<br>Informal<br>lenders<br>(6)|0.17**<br>[0.08]<br>2,393<br>0.35<br>0.23<br>[0.18]<br>1,522<br>0.37<br>0.26***<br>[0.07]<br>1,759<br>0.38<br>Yes<br>Yes<br>No<br>Yes<br>No|
|Chang<br>redit. Ea<br>due to a b<br>orried at<br>reatment<br>0.01.<br>Banks<br>(5)|0.31+<br>[0.18]<br>2,436<br>0.41<br>0.37+<br>[0.19]<br>1,547<br>0.42<br>0.17<br>[0.19]<br>1,791<br>0.44<br>Yes<br>Yes<br>No<br>Yes<br>No|
|ebt Relief<br>e access to c<br>ing lenders<br>om 0 (not w<br>action with t<br>0.05 *** p_<_<br>Model 2<br>Overall<br>(4)|0.24**<br>[0.10]<br>2,386<br>0.44<br>0.31**<br>[0.13]<br>1,518<br>0.46<br>0.22**<br>[0.11]<br>1,752<br>0.47<br>Yes<br>Yes<br>No<br>Yes<br>No|
|**ns**– Does D<br>ns about futur<br>e of the follow<br>?” on a scale fr<br>n and its inter<br>p_<_0.10 ** p_<_<br>Informal<br>lenders<br>(3)|0.12**<br>[0.05]<br>2,750<br>0.38<br>0.15<br>[0.12]<br>1,759<br>0.39<br>0.20***<br>[0.07]<br>2,024<br>0.41<br>Yes<br>No<br>No<br>No<br>No|
|**ectatio**<br>xpectatio<br>ted on on<br>he future<br>of the loa<br>istrict. +<br>Banks<br>(2)|0.15<br>[0.11]<br>2,797<br>0.42<br>0.17<br>[0.14]<br>1,789<br>0.43<br>0.13<br>[0.13]<br>2,058<br>0.45<br>Yes<br>No<br>No<br>No<br>No|
|le 10: **Exp**<br>bt relief on e<br>e you defaul<br>s source in t<br>ce disbursal<br>y bank and d<br>Model 1<br>Overall<br>(1)|0.15**<br>[0.07]<br>2,742<br>0.46<br>0.18**<br>[0.08]<br>1,755<br>0.48<br>0.17**<br>[0.08]<br>2,017<br>0.48<br>Yes<br>No<br>No<br>No<br>No|
|Tab<br>This table reports the effect of de<br>survey question “If a borrower lik<br>will not be able to borrow from thi<br>9. Loan controls include years sin<br>errors, in brackets, are clustered b<br>_Panel A: Full Sample_|100% Relief<br>Observations<br>R-squared<br>_Panel B: Restricted Sample_<br>Audited accounts<br>100% Relief<br>Observations<br>R-squared<br>Reduced bandwidth sample<br>100% Relief<br>Observations<br>R-squared<br>Interviewer effects<br>Bank*district effects<br>Respondent controls<br>Local linear control function<br>Quadratic control function|

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