Credit access and life satisfaction: evaluating the non monetary effects of micro finance
AbstractMicrofinance institutions are used to claim that their impact goes beyond money since rescuing from exclusion uncollateralized poor borrowers significantly affects their dignity, self-esteem, social recognition and, through it, life satisfaction. Our paper aims to verify the validity of this claim by evaluating whether access to microfinance loans has significant direct impact on life satisfaction beyond its indirect impact via income changes. Empirical findings on a sample of poor borrowers in the suburbs of Buenos Aires show that, after controlling for survivorship, selection and interview bias, the number of credit cycles has a significant and positive effect on life satisfaction.
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Bibliographic InfoPaper provided by Associazione Italiana per la Cultura della Cooperazione e del Non Profit in its series AICCON Working Papers with number 73-2010.
Length: 25 pages
Date of creation: 07 Dec 2010
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microfinance; happiness; impact study;
Other versions of this item:
- Leonardo Becchetti & Pierluigi Conzo, 2013. "Credit access and life satisfaction: evaluating the nonmonetary effects of micro finance," Applied Economics, Taylor & Francis Journals, vol. 45(9), pages 1201-1217, March.
- NEP-ALL-2010-12-18 (All new papers)
- NEP-HAP-2010-12-18 (Economics of Happiness)
- NEP-MFD-2010-12-18 (Microfinance)
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