The miracle of microfinance? Evidence from a randomized evaluation

American Economic Journal: Applied Economics

Volumn 7, Issue 1, 2015, Pages 22-53

  Banerjee, Abhijit ^a,b,c   Duflo, Esther ^a,b,c   Glennerster, Rachel ^d   Kinnan, Cynthia ^b,c,e  

^a MASSACHUSETTS INSTITUTE OF TECHNOLOGY   (United States)

^b NATIONAL BUREAU OF ECONOMIC RESEARCH   (United States)

^c J PAL ^*  (United States)

^d J PAL North America   (United States)

^e NORTHWESTERN UNIVERSITY   (United States)

Author keywords

[No Author keywords available]

Indexed keywords

EID: 84921522993     PISSN: 19457782     EISSN: 19457790     Source Type: Journal    
DOI: 10.1257/app.20130533     Document Type: Article

References (27)

1. Angelucci, Manuela, Dean Karlan, and Jonathan Zinman. 2015. "Microcredit Impacts: Evidence from a Randomized Microcredit Program Placement Experiment by Compartamos Banco." American Economic Journal: Applied Economics 7 (1): 151-82.
2. Attanasio, Orazio, Britta Augsburg, Ralph De Haas, Emla Fitzsimons, and Heike Harmgart. 2015. "The Impacts of Microfinance: Evidence from Joint-Liability Lending in Mongolia." American Economic Journal: Applied Economics 7 (1): 90-122.
3. Augsburg, Britta, Ralph De Haas, Heike Harmgart, and Costas Meghir. 2015. "The Impacts of Microcredit: Evidence from Bosnia and Herzegovina." American Economic Journal: Applied Economics 7 (1): 183-203.
4. Banerjee, Abhijit, Esther Duflo, Rachel Glennerster, and Cynthia Kinnan. 2015. "The Miracle of Microfinance? Evidence from a Randomized Evaluation: Dataset." American Economic Journal: Applied Economics. http://dx.doi.org/10.1257/app.20130533.
5. Banerjee, Abhijit, Arun G. Chandrasekhar, Esther Duflo, and Matthew O. Jackson. 2013. "The Diffusion of Microfinance." Science 341 (6144).
6. Buera, Francisco J., Joseph P. Kaboski, and Yongseok Shin. 2011. "The Macroeconomics of Microfinance." http://www.cfsp.org/sites/default/files/macroeconomics_of_microfinance.pdf.
7. Collins, Daryl, Jonathan Morduch, Stuart Rutherford, and Orlanda Ruthven. 2009. Portfolios of the Poor: How the World's Poor Live on Two Dollars a Day. Princeton: Princeton University Press.
8. Crépon, Bruno, Florencia Devoto, Esther Duflo, and William Parienté. 2015. "Estimating the Impact of Microcredit on Those Who Take It Up: Evidence from a Randomized Experiment in Morocco." American Economic Journal: Applied Economics 7 (1): 123-50.
9. De Mel, Suresh, David McKenzie, and Christopher Woodruff. 2008. "Returns to Capital in Microenterprises: Evidence from a Field Experiment." Quarterly Journal of Economics 123 (4): 1329-72.
10. De Mel, Suresh, David McKenzie, and Christopher Woodruff. 2009. "Are Women More Credit Constrained? Experimental Evidence on Gender and Microenterprise Returns." American Economic Journal: Applied Economics 1 (3): 1-32.
11. DiNardo, John, Nicole M. Fortin, and Thomas Lemieux. 1996. "Labor Market Institutions and the Distribution of Wages, 1973-1992: A Semiparametric Approach." Econometrica 64 (5): 1001-44.
12. Duflo, Esther. 2003. "Grandmothers and Granddaughters: Old Age Pensions and Intra-Household Allocation in South Africa." World Bank Economic Review 17 (1): 1-25.
13. Fulford, Scott. 2011. "The Effects of Financial Development in the Short and Long Run." http://fmwww.bc.edu/ec-p/wp741.pdf.
14. Giné, Xavier, and Robert M. Townsend. 2004. "Evaluation of Financial Liberalization: A General Equilibrium Model with Constrained Occupation Choice." Journal of Development Economics 74(2): 269-307.
15. Heckman, James J. 1992. "Randomization and Social Program Evaluation." In Evaluating Welfare and Training Programs, edited by Charles F. Manski and Irwin Garfinkel, 201-30. Cambridge, MA: Harvard University Press.
16. Hochberg, Yosef. 1988. "A Sharper Bonferroni Procedure for Multiple Tests of Significance." Biometrika 75 (4): 800-802.
17. Kaboski, Joseph P., and Robert M. Townsend. 2011. "A Structural Evaluation of a Large-Scale Quasi-Experimental Microfinance Initiative." Econometrica 79 (5): 1357-1406.
18. Karlan, Dean, and Jonathan Zinman. 2010. "Expanding Credit Access: Using Randomized Supply Decisions To Estimate the Impacts." Review of Financial Studies 23 (1): 433-64.
19. Karlan, Dean, and Jonathan Zinman. 2011. "Microcredit in Theory and Practice: Using Randomized Credit Scoring for Impact Evaluation." Science 332 (6035): 1278-84.
20. Kling, Jeffrey R., Jeffrey B. Liebman, and Lawrence F. Katz. 2007. "Experimental Analysis of Neighborhood Effects." Econometrica 75 (1): 83-119.
21. Microcredit Summit Campaign. 2012. "State of the Campaign Report." Washington, DC: Results Educational Fund.
22. MIX Market. 2009. "Profile for Spandana." http://www.mixmarket.org/mfi/spandana.
23. Polgreen, Lydia, and Vikas Bajaj. 2010. "India Microcredit Faces Collapse From Defaults." New York Times, November 17. http://www.nytimes.com/2010/11/18/world/asia/18micro.html?pagewanted=all&_r=0.
24. Tarozzi, Alessandro, Jaikishan Desai, and Kristin Johnson. 2015. "The Impacts of Microcredit: Evidence from Ethiopia." American Economic Journal: Applied Economics 7(1): 54-89.
25. Thomas, Duncan. 1990. "Intra-Household Resource Allocation: An Inferential Approach." Journal of Human Resources 25 (4): 635-64.
26. World Bank. 2005. "World Development Indicators." http://data.worldbank.org/products/data-books/WDI-2005.
27. World Bank. 2007. "World Development Indicators, Table 4.14: Exchange rates and prices." http://siteresources.worldbank.org/DATASTATISTICS/Resources/WDI07frontmatter.pdf.