The Miracle of Microfinance? Evidence from a Randomized Evaluation.

Banerjee, Abhijit V.

Duflo, Esther, 1972-

Glennerster, Rachel.

Kinnan, Cynthia.


  • 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, ... read more
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  • Banerjee, Abhijit, Esther Duflo, Rachel Glennerster, and Cynthia Kinnan. 2015. "The Miracle of Microfinance? Evidence from a Randomized Evaluation." American Economic Journal: Applied Economics, 7 (1): 22-53. DOI: 10.1257/app.20130533.
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