Impact assessments in finance and private sector development: What have we learned and what should we learn?

World Bank Research Observer

Volumn 25, Issue 2, 2009, Pages 209-233

  McKenzie, David ^a  

^a WORLD BANK   (United States)

Author keywords

[No Author keywords available]

Indexed keywords

FINANCIAL MARKET; IMPLEMENTATION PROCESS; MICROENTERPRISE; MICROFINANCE; PRIVATE SECTOR; WORLD BANK;

EID: 77955722761     PISSN: 02573032     EISSN: 15646971     Source Type: Journal    
DOI: 10.1093/wbro/lkp011     Document Type: Article

References (55)

1. Abidoye, Babatunde, Peter Orazem, and Milan Vodopivec. 2008. "Firing Cost and Firm Size: A Study of Sri Lanka's Severance Pay System." Iowa State University Working Paper 08014.
2. Almeida, Rita, and Emanuela Galasso. 2007. "Jump-starting Self-employment? Evidence among Welfare Participants in Argentina." IZAWorking Paper 2902.
3. Angrist, Joshua D., and Guido Imbens. 1994. "Identification and Estimation of Local Average Treatment Effects." Econometrica 62(2): 467-75.
4. Armendáriz, Beatriz, and Jonathan Morduch. 2005. The Economics of Microfinance. Cambridge, MA: MIT Press.
5. Banerjee, Abhijit, and Esther Duflo. 2007. "The Economic Lives of the Poor." Journal of Economic Perspectives 21(1): 141-67.
6. Banerjee, Abhijit. 2008. "Do Firms Want to Borrow More? Testing Credit Constraints Using a Directed Lending Program." Processed. MIT.
7. Banerjee, Abhijit, and Andrew Newman. 1993. "Occupational Choice and the Process of Development." Journal of Political Economy 101:274-98.
8. Banerjee, Abhijit, Angus Deaton, Nora Lustig, and Ken Rogoff. 2006. "An Evaluation of World Bank research, 1998-2005." (http://siteresources.worldbank.org/DEC/Resources/84797-1109362238001/726454-1164121166494/RESEARCH-EVALUATION-2006-Main-Report.pdf) accessed February 4, 2009).
9. Bruhn, Miriam. 2008. "License to Sell: The Effect of Business Registration Reform on Entrepreneurial Activity in Mexico." World Bank Policy Research Working Paper 4538.
10. Burjorjee, Deena M., Rani Deshpande, and C. Jean Weidemann. 2002. "Supporting Women's Livelihoods Microfinance that Works for the Majority: A Guide to Best Practices." United Nations Capital Development Fund (UNCDF), Special Unit for Microfinance. Processed UNCDF.
11. Cole, Shawn, Thomas Sampson, and Bilal Zia. 2009. "Valuing Financial Literacy." Processed. World Bank.
12. Cole, Shawn, Xavier Giné, Jeremy Tobacman, Petia Topalova, Robert Townsend, and James Vickrey. 2008. "Barriers to Household Risk Management: Evidence from India." Processed. World Bank.
13. Cull, Robert, Asli Demirgüç-Kunt, and Jonathon Morduch. 2009. "Microfinance Meets the Market." Journal of Economic Perspectives, 23(1): 167-92.
14. Deaton, Angus. 2009. "Instruments of Development: Randomization in the Tropics, and the Search for the Elusive Keys to Economic Development." Processed. Princeton University.
15. de Mel, Suresh, David McKenzie, and Christopher Woodruff. 2008a. "Returns to Capital: Results from a Randomized Experiment." Quarterly Journal of Economics 123(4): 1329-72.
16. de Mel, Suresh. 2008b. "Are Women more Credit Constrained? Experimental Evidence on Gender and Microenterprise Returns." American Economic Journal: Applied Economics 1(3): 1-32.
17. de Mel, Suresh. 2008c. "Rebound: How Enterprises Recover from a Natural Disaster." Processed. World Bank.
18. de Mel, Suresh. 2008d. "Who Are the Microenterprise Owners? Evidence from Sri Lanka on Tokman v. de Soto." In Joshua Lerner, and Antoinette Schoar eds., International Differences in Entrepreneurship. Boston, MA: NBER.
19. de Mel, Suresh. 2009a. "Measuring Microenterprise Profits: Must We Ask How the Sausage Is Made?" Journal of Development Economics 88(1): 19-31.
20. de Mel, Suresh. 2009b. "Getting Credit to High Return Microenterprises: The Results of an Information Intervention." Processed. World Bank.
21. Demirgüç-Kunt, Asli, Thorsten Beck, and Patrick Honohan. 2008. Finance for All? Policies and Pitfalls in Expanding Access. World Bank Policy Research Report. Washington, DC: World Bank.
22. Diamond, Alexis, and Jens Hainmueller. 2007. "The Encouragement Design for Program Evaluation." (http://www.ifc.org/ifcext/rmas.nsf/AttachmentsByTitle/Encouragement/$FILE/The+Encouragement+Design+for+Program+Evaluation.pdf, accessed February 10, 2009).
23. Duflo, Esther, and Michael Kremer. 2005. "Use of Randomization in the Evaluation of Development Effectiveness."In Osvaldo Feinstein, Gregory K. Ingram, and George K. Pitman eds., Evaluating Development Effectiveness. New Brunswick, NJ: Transaction Publishers: 205-32.
24. Fajnzylber, Pablo, William Maloney, and Gabriel Montes Rojas. 2006. "Releasing Constraints to Growth or Pushing on a String? The Impact of Credit, Training, Business Associations and Taxes on the Performance of Mexican Micro-Firms." World Bank Policy Research Working Paper 3807. Washington, DC.
25. FINCA. 2007. "Frequently Asked Questions." (http://www.villagebanking.org/site/c.erKPI2PCIoE/b. 2394157/k.8161/Frequently_Asked_Questions.htm, accessed August 15, 2007).
26. Fiszbein, Ariel, and Norbert Schady. 2009. Conditional Cash Transfers: Reducing Present and Future Poverty. Policy Research Report. Washington, DC: The World Bank.Giné, Xavier, and Dean Karlan. 2008. "Peer Monitoring and Enforcement: Long Term Evidence from Microcredit Lending Groups with and without Group Liability."Processed. World Bank.
27. Giné, Xavier, and Inessa Love. 2006. "Do Reorganization Costs Matter for Efficiency? Evidence from a Bankruptcy Reform in Colombia." World Bank Policy Research Working Paper 3970.
28. Giné, Xavier, and Dean Yang. 2009. "Insurance, Credit, and Technology Adoption: Field Experimental Evidence from Malawi." Journal of Development Economics, 89(1): 1-11.
29. Giné, Xavier, Robert Townsend, and James Vickrey. 2008. "Patterns of Rainfall Insurance Participation in Rural India." World Bank Economic Review 22(3): 539-66.
30. Gollin, Douglas. 2002. "Getting Income Shares Right." Journal of Political Economy 110(2): 458-74.
31. Harford, Tim. 2008. "The Battle for the Soul of Microfinance." Financial Times December 6.
32. Heckman, James, and Salvador Navarro-Lozano. 2004. "Using Matching, Instrumental Variables and Control Functions to Estimate Economic Choice Models." The Review of Economic and Statistics 86(1): 30-57.
33. Heckman, James, Sergio Urzua, and Edward Vytacil. 2006. "Understanding Instrumental Variables in Models with Essential Heterogeneity." Review of Economics and Statistics 88(3): 389-432.
34. IFC (n.d.) "Innovations in Impact Evaluation in IFC." IFC Monitor: Results Measurement for Advisory Services. (http://www.ifc.org/ifcext/rmas.nsf/AttachmentsByTitle/Innovationsmonitor/$FILE/Innovations2.pdf, accessed February 10, 2009).
35. Imbens, Guido. 2009. "Better LATE than Nothing: Some Comments on Deaton (2009) and Heckman and Urzua (2009)." Processed. Harvard University.
36. Imbens, Guido, and Jeffrey Wooldridge. 2008. "Recent Developments in the Econometrics of Program Evaluation." Processed. Harvard University.
37. Janvry, Alain de, Craig McIntosh, and Elisabeth Sadoulet. 2008. "The Supply-and Demand-side Impacts of Credit Market Information." Processed. UCSD.
38. Karlan, Dean, and Jonathan Morduch. 2009. "Access to Finance." In M. Rosenzweig, and D. Rodrik eds., Handbook of Development Economics, Volume 5. forthcoming.
39. Karlan, Dean, and Martin Valdivia (2008) "Teaching Entrepreneurship: Impact Of Business Training On Microfinance Clients and Institutions", Mimeo. Yale University.
40. Karlan, Dean, and Jonathan Zinman (2008) "Expanding Credit Access: Using Randomized Supply Decisions to Estimate the Impacts", Review of Financial Studies, forthcoming
41. Karlan, Dean, 2009. "Observing Unobservables: Identifying Information Asymmetries with a Consumer Credit Field Experiment." Econometrica, forthcoming.
42. Kaplan, David, Eduardo Piedra, and Enrique Seira. 2007. "Entry Regulation and Business Start-ups : Evidence from Mexico." World Bank Policy Research Working Paper 4322.
43. Khandker, Shahidur R. 1998. "Using Microcredit to Advance Women." World Bank Premnote (November) 8. (http://www1.worldbank.org/prem/PREMNotes/premnote8.pdf, accessed August 15, 2007).
44. Kugler, Adriana, Juan Jimeno, and Virginia Hernanz. 2005. "Employment Consequences of Restrictive Permanent Contracts: Evidence from Spanish Labor Market Reforms." Processed. University of Houston.
45. Leonardi, Marco, and Giovanni Pica. 2006. "Effects of Employment Protection Legislation on Wages: A Regression Discontinuity Approach." Processed. University of Milan.
46. Lucas, Robert E. 1978. "On the Size Distribution of Business Firms." Bell Journal of Economics 9(2): 508-23.
47. McKenzie, David, and Christopher Woodruff. 2008. "Experimental Evidence on Returns to Capital and Access to Finance in Mexico." World Bank Economic Review 22(3): 457-82.
48. McKenzie, David, and Yaye Seynabou Sakho. 2009. "Does It Pay Firms to Register for Taxes? The Impact of Formality on Firm Profitability." Journal of Development Economics, forthcoming.
49. Oh, Inha, Jeong-Dong Lee, Almas Heshmati, and Gyoung-Gyu Choi. 2009. "Evaluation of Credit Guarantee Policy Using Propensity Score Matching." Small Business Economics, 33(3): 335-51.
50. Pitt, Mark, and Shahidur Khandker. 1998. "The Impact of Group-Based Credit Programs on Poor Households in Bangladesh: Does the Gender of Participants Matter?" Journal of Political Economy 106(5): 958-96.
51. Ravallion, Martin. 2009. "Should the Randomistas Rule?" The Economists' Voice, February 2009. (www.bepress.com/ev).
52. Rodrik, Dani. 2008. "The New Development Economics: We Shall Experiment, but How Shall We Learn?" Processed. Harvard University.
53. Soto, Hernando de. 1989. The Other Path: The Economic Answer to Terrorism. New York, NY: Basic Books.
54. World Bank. 2008. Doing Business 2009. Washington DC: World Bank.
55. Yunus, Muhammed. 2007. "Remarks by Muhammad Yunus, Managing Director, Grameen Bank." Microcredit Summit E-News 5(1).