Microfinance and Home Improvement: Using Retrospective Panel Data to Measure Program Effects on Fundamental Events
Summary Rigorously estimating the effects of development programs is notoriously difficult. We present a methodology that borrows from "event studies" commonly used in the finance literature. In our RETRAFECT methodology, a retrospective panel dataset is created based on "fundamental" events in the history of surveyed households, events that are discrete, unforgettable, and important to welfare. We apply this methodology to examine home improvements among 1,672 households in Guatemala, India, and Ghana. Using village and country/year-level fixed effects, we find the probability of a major housing improvement increases from 0.038 to 0.070 in the years subsequent to a first microfinance loan.
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- Jonathan Zinman & Dean Karlan, 2009. "Expanding Microenterprise Credit Access: Using Randomized Supply Decisions to Estimate the Impacts in Manila," Working Papers 976, Economic Growth Center, Yale University.
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- 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.
- Wydick, Bruce, 1999. "The Effect of Microenterprise Lending on Child Schooling in Guatemala," Economic Development and Cultural Change, University of Chicago Press, vol. 47(4), pages 853-869, July.
- Karlan, Dean S. & Zinman, Jonathan, 2009. "Expanding Microenterprise Credit Access: Using Randomized Supply Decisions to Estimate the Impacts in Manila," CEPR Discussion Papers 7396, C.E.P.R. Discussion Papers.
- A. Craig MacKinlay, 1997. "Event Studies in Economics and Finance," Journal of Economic Literature, American Economic Association, vol. 35(1), pages 13-39, March.
- Coleman, Brett E., 1999. "The impact of group lending in Northeast Thailand," Journal of Development Economics, Elsevier, vol. 60(1), pages 105-141, October.
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