Microcredit Impacts: Evidence from a Randomized Microcredit Program Placement Experiment by Compartamos Banco

• 成果类型: Article
• 署名作者: Angelucci, Manuela; Karlan, Dean; Zinman, Jonathan
• 署名单位: University of Michigan System; University of Michigan; Yale University; Dartmouth College
• 刊物名称: AMERICAN ECONOMIC JOURNAL-APPLIED ECONOMICS
• ISSN/ISSBN: 1945-7782
• DOI: 10.1257/app.20130537
• 发表日期: 2015
• 页码: 151-182
• 关键词: credit; empowerment; access

摘要

We use a clustered randomized trial, and over 16,000 household surveys, to estimate impacts at the community level from a group lending expansion at 110 percent APR by the largest microlender in Mexico. We find no evidence of transformative impacts on 37 outcomes (although some estimates have large confidence intervals), measured at a mean of 27 months post-expansion, across 6 domains: microen-trepreneurship, income, labor supply, expenditures, social status, and subjective well-being. We also examine distributional impacts using quantile regressions, given theory and evidence regarding negative impacts from borrowing at high interest rates, but do not find strong evidence for heterogeneity.