The Effects of State Farm Relief Legislation on Private Lenders and Borrowers: The Experience of the 1930s
作者:
Randal R. Rucker,
期刊:
American Journal of Agricultural Economics
(WILEY Available online 1990)
卷期:
Volume 72,
issue 1
页码: 24-34
ISSN:0002-9092
年代: 1990
DOI:10.2307/1243142
出版商: Oxford University Press
数据来源: WILEY
摘要:
AbstractThe effects on private lenders and borrowers of farm relief programs that alter the enforceability of debt contracts are investigated. Evidence from the 1930s indicates that state relief legislation that altered debt contracts to the detriment of lenders substantially reduced the supply of loans and had different effects on different types of private lenders. This past experience suggests that, although such measures as moratoria on farm foreclosures and the recently enacted Chapter 12 bankruptcy law may provide relief for some farmers, they may also result in substantial reductions in the supply of agricultural credit.
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