The Impact of Microfinance Loans on Small Informal Enterprises in Madagascar : A Panel Data Analysis

The Impact of Microfinance Loans on Small Informal Enterprises in Madagascar : A Panel Data Analysis

This paper analyses the impact of a microfinance institution (MFI) serving small informal enterprises in Antananarivo (Madagascar). The methodology consists of comparing over time the situation of a representative sample of clients' enterprise...

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Bibliographic Details
Main Authors:	Gubert, Flore, Roubaud, Francois
Format:	Working Paper
Language:	English en_US
Published:	World Bank, Washington, DC 2017
Subjects:	ACCESS TO CAPITAL ACCESS TO CREDIT ACCESS TO FINANCE ACCESS TO FORMAL CREDIT ACCOUNTS ACCUMULATION RATE ADVANCED ECONOMY AGRICULTURAL ECONOMICS BANK CREDIT BANK POLICY BARRIERS TO ENTRY BIASES BORROWING BUSINESS ACTIVITY BUSINESS ASSOCIATIONS BUSINESS ECONOMICS BUSINESS OWNERS BUSINESS RISK CAPACITY BUILDING CAPITAL ACCUMULATION CAPITAL CONSTRAINT CAPITAL COST CAPITAL INJECTION CAPITAL MARKET CAPITAL REQUIREMENTS CAPITAL RETURNS CAPITAL SHORTAGES CAPITAL STOCK CHECKS COLLATERAL CONTRACTUAL OBLIGATIONS COST OF CAPITAL CREDIT CONSTRAINED FIRMS CREDIT CONSTRAINT CREDIT HISTORY CREDIT INSTITUTIONS CREDIT MARKET CREDIT RATIONING DEGREES OF RISK DEMOGRAPHIC CHARACTERISTICS DEVELOPING COUNTRY DEVELOPMENT ECONOMICS DIVERSIFICATION DUMMY VARIABLE DURABLE DURABLE GOODS EARNINGS ECONOMETRIC MODELS ECONOMIC CONSTRAINTS ECONOMIC DEVELOPMENT ECONOMIC GROWTH ECONOMIC POLICIES ECONOMIC STATISTICS ENDOWMENTS ENTERPRISE PERFORMANCE ENTREPRENEUR ENTREPRENEURIAL ACTIVITY ENTRY BARRIERS EQUIPMENT EXCESSIVE RISK EXPECTED UTILITY EXPECTED VALUE EXPENDITURE EXTERNAL FINANCE FAMILY FINANCE FAMILY LOANS FARMERS FEMALE ENTREPRENEURS FINANCIAL MEANS FINANCIAL RESOURCES FINANCIAL SUPPORT FIXED COSTS FORMAL BANKS GDP GROUP OF FIRMS GROWTH THEORY HIGH INTEREST RATES HOLDING HOUSEHOLD WEALTH HOUSEHOLDS HUMAN CAPITAL INCOME GROWTH INFORMATION ASYMMETRIES INFORMATION ON ENTREPRENEURS INFORMATION ON INVESTMENT INSTRUMENT INSURANCE INSURANCE MARKET INSURANCE PRODUCTS INTEREST RATE INTERNAL FINANCE INTERNAL FUNDS INVENTORY INVESTING INVESTMENT BEHAVIOR JOB CREATION LABOR FORCE SURVEY LABOR MARKET LACK OF ACCESS LEVEL OF RISK LIQUID WEALTH LIQUIDITY LIQUIDITY CONSTRAINT LIQUIDITY PREMIUM LIQUIDITY PROBLEMS LOAN LOTTERY MARGINAL COST MARGINAL PRODUCT MARGINAL UTILITY MARGINAL UTILITY OF CONSUMPTION MARKET CONSTRAINTS MARKET ECONOMY MARKET FAILURE MARKET INTEREST RATE MICRO DATA MICRO ENTERPRISES MICRO-CREDIT MICRO-ENTERPRISE MICRO-FINANCE MICRO-FINANCE INSTITUTIONS MICROCREDIT MICROENTERPRISES MIDDLE INCOME COUNTRIES MONEYLENDERS MORAL HAZARD OPPORTUNITY COST PHYSICAL CAPITAL POLITICAL ECONOMY PORTFOLIO PRICE RISK PRICE UNCERTAINTY PRODUCTION FUNCTION PRODUCTIVE INVESTMENT PROFITABILITY PURCHASING POWER PURCHASING POWER PARITY RATE OF RETURN RECEIPTS REINVESTMENT RETAINED EARNINGS RISK AVERSION RISK PERCEPTIONS RISK PREMIUM RISK-AVERSE INDIVIDUALS SAFE ASSET SAVINGS SELF-EMPLOYMENT SMALL BUSINESS SMALL ENTERPRISES SMALL-SCALE ENTREPRENEURS SOURCE OF CREDIT SOURCES OF FINANCE START-UP TAX TAXIS TRADE SECTOR TRADING TRANSITION COUNTRY TRANSITION ECONOMY TRUST FUND UNION VALUE ADDED WEALTH
Online Access:	http://documents.worldbank.org/curated/en/642841468339640191/The-impact-of-microfinance-loans-on-small-informal-enterprises-in-Madagascar-a-panel-data-analysis http://hdl.handle.net/10986/27328

Internet

http://documents.worldbank.org/curated/en/642841468339640191/The-impact-of-microfinance-loans-on-small-informal-enterprises-in-Madagascar-a-panel-data-analysis
http://hdl.handle.net/10986/27328