Women’s Liberation as a Financial Innovation

Strong disincentive for women, or parents, to invest in moveable assets.
Leads to under-investment in moveable (capital) → ine€iciency.
Granting rights →:
Portfolio reallocations towards moveable assets.
↑ in bank deposits, bank loans, ↓ in bank interest rates.
↑ non-agricultural employment.
↑ relative employment in capital intensive industries.
Test predictions: cross state variation in timing of right

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