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...
| Main Authors: | , |
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| Format: | Working Paper |
| Language: | English en_US |
| Published: |
World Bank, Washington, DC
2017
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| Subjects: | |
| 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 |
| Summary: | 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' enterprises with a
control group, constructed in an almost experimental way
through a standard propensity-score matching technique.
Overall, the results indicate a positive impact of the
project. Taken as a snapshot, the evaluations successively
conducted in 2001 and 2004 indicate that the clients'
enterprises recorded better average performance than
enterprises without funding. With a dynamic perspective
however, the results are more nuanced. If the positive
effect of the project is clear during growth phases, its
effect during economic recessions appears less certain. |
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