%PDF-1.5 % 1 0 obj << /S /GoTo /D (section.1) >> endobj 4 0 obj (Introduction) endobj 5 0 obj << /S /GoTo /D (section.2) >> endobj 8 0 obj (Institutional set-up) endobj 9 0 obj << /S /GoTo /D (section.3) >> endobj 12 0 obj (Data and Empirical Strategy) endobj 13 0 obj << /S /GoTo /D (subsection.3.1) >> endobj 16 0 obj (Data and Summary Statistics) endobj 17 0 obj << /S /GoTo /D (subsection.3.2) >> endobj 20 0 obj (Empirical Strategy) endobj 21 0 obj << /S /GoTo /D (section.4) >> endobj 24 0 obj (Results) endobj 25 0 obj << /S /GoTo /D (subsection.4.1) >> endobj 28 0 obj (Baseline Visual Evidence and Regression Estimates) endobj 29 0 obj << /S /GoTo /D (subsection.4.2) >> endobj 32 0 obj (Discussion: Discontinuity and Sales Diversion) endobj 33 0 obj << /S /GoTo /D (subsection.4.3) >> endobj 36 0 obj (Lending Market Competition and Enforcement) endobj 37 0 obj << /S /GoTo /D (subsection.4.4) >> endobj 40 0 obj (Payment Market Competition and Enforcement) endobj 41 0 obj << /S /GoTo /D (section.5) >> endobj 44 0 obj (Conclusion) endobj 45 0 obj << /S /GoTo /D (appendix.a.A) >> endobj 48 0 obj (Additional Figures and Tables) endobj 49 0 obj << /S /GoTo /D (appendix.a.B) >> endobj 52 0 obj (Cash Crunch) endobj 53 0 obj << /S /GoTo /D (appendix.a.C) >> endobj 56 0 obj (Internet Appendix: Robustness Checks) endobj 57 0 obj << /S /GoTo /D (subsection.a.C.1) >> endobj 60 0 obj (Alternative Estimation Windows) endobj 61 0 obj << /S /GoTo /D (subsection.a.C.2) >> endobj 64 0 obj (Robustness Check Across Month of Disbursal) endobj 65 0 obj << /S /GoTo /D (subsection.a.C.3) >> endobj 68 0 obj (Alternative Definitions of Non-performing Loans) endobj 69 0 obj << /S /GoTo /D (subsection.a.C.4) >> endobj 72 0 obj (Ruling Out Seasonality as an Alternative Explanation) endobj 73 0 obj << /S /GoTo /D [74 0 R /Fit] >> endobj 78 0 obj << /Length 1761 /Filter /FlateDecode >> stream xWK4ϯ j"lIlN.3.0GI8vIe=jLݒZYLU/W_Y5DɓEZ%eL kN:`dkLcݜ;OQOr)NfRwj\kG:kV2X VU`nA{yV^#r&*wkM:գr"LiRxfp4u.i _t3x?=2ABz$LR<_Y?N"ջT*}rr寁Q
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