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Analyser l’impact d’un projet de Micro-finance : l’exemple d’ADéFI à Madagascar

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Author Info

  • Flore Gubert

    ()
    (DIAL, IRD, Paris)

  • François Roubaud

    ()
    (DIAL, IRD, Paris)

Abstract

(english) This study aims at assessing the impact of a microfinance institution serving micro-entrepreneurs in Antananarivo (Madagascar). It starts by reviewing the recent literature on the socioeconomic impact of microfinance, then moves on to describe the current state of supply and demand of micro-credit in Madagascar. Finally, the results of the examination of the impact of ADéFI financing on microentreprises are presented. The methodology consists of comparing the situation of a representative sample of micro-enterprise ADéFI clients with a control group, constructed in an almost experimental way through a standard matching technique. Overall, the results indicate a positive impact of the project. Taken as a snapshot, the studies conducted in 2001 and 2004 indicate that the microenterprises financed recorded better average performance than informal production units without funding. With a dynamic perspective however, the results were more nuanced. If the positive effect of the project is clear during growth phases, its effect during contractions appears less certain. _________________________________ (français) Cette étude s’attache à analyser l’impact d’une institution de microfinance opérant auprès de microentrepreneurs à Antananarivo (Madagascar). Elle débute par un passage en revue de la littérature récente consacrée à l’impact socio-économique de la micro-finance. Elle décrit ensuite succinctement l’état de l’offre et de la demande de micro-crédit à Madagascar. Elle présente enfin les résultats de l’analyse de l’impact des financements accordés par ADéFI. La méthodologie retenue consiste à comparer la situation d’un échantillon de micro-entreprises clientes d’ADéFI représentatives de l’ensemble de la clientèle de l’institution à celle d’un groupe de contrôle construit de façon quasiexpérimentale par une technique standard d’appariement. Dans l’ensemble, les résultats des analyses concluent à un impact positif du projet. En statique, les évaluations conduites en 2001 et 2004 montrent que les micro-entreprises financées enregistrent de meilleures performances en moyenne que les UPI non financées. En dynamique, les analyses menées sont plus nuancées. Si l’impact positif du projet est clairement établi en phase de croissance, son effet en période de récession paraît plus incertain.

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Bibliographic Info

Paper provided by DIAL (Développement, Institutions et Mondialisation) in its series Working Papers with number DT/2005/14.

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Length: 49 pages
Date of creation: Nov 2005
Date of revision:
Handle: RePEc:dia:wpaper:dt200514

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Keywords: Microfinance; impact assessment; propensity score matching; Madagascar; Microfinance; évaluation d'impact; score de propension.;

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References

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  1. Adams, Dale W & Von Pischke, J. D., 1992. "Microenterprise credit programs: Deja vu," World Development, Elsevier, vol. 20(10), pages 1463-1470, October.
  2. Sajeda Amin & Ashok S. Rai & Giorgio Topa, 1999. "Does Microcredit Reach the Poor and Vulnerable? Evidence from Northern Bangladesh," CID Working Papers 28, Center for International Development at Harvard University.
  3. Robin Burgess & Rohini Pande, 2003. "Do Rural Banks Matter? Evidence from the Indian Social Banking Experiment," STICERD - Development Economics Papers - From 2008 this series has been superseded by Economic Organisation and Public Policy Discussion Papers 40, Suntory and Toyota International Centres for Economics and Related Disciplines, LSE.
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  5. Matin, Imran & Hulme, David, 2003. "Programs for the Poorest: Learning from the IGVGD Program in Bangladesh," World Development, Elsevier, vol. 31(3), pages 647-665, March.
  6. Mark Schreiner, 2001. "A Cost-Effectiveness Analysis of the Grameen Bank of Bangladesh," Development and Comp Systems 0109007, EconWPA.
  7. Zeller, Manfred & Meyer, Richard L., 2002. "The triangle of microfinance," Food policy statements 40, International Food Policy Research Institute (IFPRI).
  8. Navajas, Sergio & Schreiner, Mark & Meyer, Richard L. & Gonzalez-vega, Claudio & Rodriguez-meza, Jorge, 2000. "Microcredit and the Poorest of the Poor: Theory and Evidence from Bolivia," World Development, Elsevier, vol. 28(2), pages 333-346, February.
  9. Jorge Higinio Maldonado, 2005. "The Influence Of Microfinance On The Education Decisions Of Rural Households: Evidence From Bolivia," DOCUMENTOS CEDE 003606, UNIVERSIDAD DE LOS ANDES-CEDE.
  10. Mark M. Pitt & Shahidur R. Khandker & Omar Haider Chowdhury & Daniel L. Millimet, 2003. "Credit Programs for the Poor And the Health Status of Children in Rural Bangladesh," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 44(1), pages 87-118, February.
  11. Weiss, John & Montgomery, Heather & Kurmanalieva, Elvira, 2003. "Micro finance and poverty reduction in Asia: what is the evidence?," MPRA Paper 33140, University Library of Munich, Germany.
  12. Heckman, James J & Ichimura, Hidehiko & Todd, Petra E, 1997. "Matching as an Econometric Evaluation Estimator: Evidence from Evaluating a Job Training Programme," Review of Economic Studies, Wiley Blackwell, vol. 64(4), pages 605-54, October.
  13. Mark M. Pitt & Shahidur R. Khandker & Omar Haider Chowdhury & Daniel L. Millimet, 1998. "Credit Programs for the Poor and the Nutritional Status of Children in Rural Bangladesh," Working Papers 98-4, Brown University, Department of Economics, revised 16 Jan 1998.
  14. Mark M. Pitt & Shahidur R. Khandker, 1998. "The Impact of Group-Based Credit Programs on Poor Households in Bangladesh: Does the Gender of Participants Matter?," Journal of Political Economy, University of Chicago Press, vol. 106(5), pages 958-996, October.
  15. Evans, Timothy G. & Adams, Alayne M. & Mohammed, Rafi & Norris, Alison H., 1999. "Demystifying Nonparticipation in Microcredit: A Population-Based Analysis," World Development, Elsevier, vol. 27(2), pages 419-430, February.
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Cited by:
  1. van Rooyen, C. & Stewart, R. & de Wet, T., 2012. "The Impact of Microfinance in Sub-Saharan Africa: A Systematic Review of the Evidence," World Development, Elsevier, vol. 40(11), pages 2249-2262.

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