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Air Pollution, Financial Mistakes, and Credit Allocation
Jianwen Li, Keyang Li, Yuan Ren, Aug 05, 2026We find that borrowers are significantly more likely to miss scheduled repayments on polluted days, with these missed payments being short-lived and cured once air quality improves. Because the lending platform penalizes such missed payments in the same way as other delinquencies, pollution-induced mistakes can lower borrowers’ credit ratings and reduce their future access to credit.
