The Miracle of Microfinance? Evidence from a Randomized Evaluation

• 成果类型: Article
• 署名作者: Banerjee, Abhijit; Duflo, Esther; Glennerster, Rachel; Kinnan, Cynthia
• 署名单位: Massachusetts Institute of Technology (MIT); National Bureau of Economic Research; Northwestern University
• 刊物名称: AMERICAN ECONOMIC JOURNAL-APPLIED ECONOMICS
• ISSN/ISSBN: 1945-7782
• DOI: 10.1257/app.20130533
• 发表日期: 2015
• 页码: 22-53
• 关键词: microcredit evidence; impacts; allocation

摘要

This paper reports results from the randomized evaluation of a group-lending microcredit program in Hyderabad, India. A lender worked in 52 randomly selected neighborhoods, leading to an 8.4 percentage point increase in takeup of microcredit. Small business investment and profits of preexisting businesses increased, but consumption did not significantly increase. Durable goods expenditure increased, while temptation goods expenditure declined. We found no significant changes in health, education, or women's empowerment. Two years later, after control areas had gained access to microcredit but households in treatment area had borrowed for longer and in larger amounts, very few significant differences persist.