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Impact Assessments in Finance and Private Sector Development: What Have We Learned and What Should We Learn?

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  • David McKenzie

Abstract

Until recently rigorous impact evaluations have been rare in the area of finance and private sector development. One reason for this is the perception that many policies and projects in this area lend themselves less to formal evaluations. However, a vanguard of new impact evaluations on areas as diverse as fostering microenterprise growth, microfinance, rainfall insurance, and regulatory reform demonstrates that in many circumstances serious evaluation is possible. The purpose of this paper is to synthesize and distill the policy and implementation lessons emerging from these studies, use them to demonstrate the feasibility of impact evaluations in a broader array of topics, and thereby help prompt new impact evaluations for projects going forward. Copyright 2010, Oxford University Press.

Suggested Citation

  • David McKenzie, 2010. "Impact Assessments in Finance and Private Sector Development: What Have We Learned and What Should We Learn?," World Bank Research Observer, World Bank Group, vol. 25(2), pages 209-233, August.
  • Handle: RePEc:oup:wbrobs:v:25:y:2010:i:2:p:209-233
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    6. Cadot, Olivier & Fernandes, Ana & Gourdon, Julien & Mattoo, Aaditya, 2011. "Impact Evaluation of Trade Interventions: Paving the Way," CEPR Discussion Papers 8638, C.E.P.R. Discussion Papers.
    7. World Bank, . "Measuring Changes in Client Lives through Microfinance : Contributions of Different Approaches," World Bank Other Operational Studies, The World Bank, number 9452, March.
    8. Inha Oh & Dongnyok Shim, 2020. "IT Adoption and Sustainable Growth of Firms in Different Industries—Are the Benefits Still Expected?," Sustainability, MDPI, Open Access Journal, vol. 12(22), pages 1-29, November.
    9. Montgomery, Heather & Weiss, John, 2011. "Can Commercially-oriented Microfinance Help Meet the Millennium Development Goals? Evidence from Pakistan," World Development, Elsevier, vol. 39(1), pages 87-109, January.
    10. J. Gourdon & J.M. Marchat & S. Sharma & T. Vishwanath, . "Ex-Post Impact Evaluation of an Export Promotion Matching Grant : Tunisia's Second EMAF," World Bank Other Operational Studies, The World Bank, number 10890, March.
    11. Campos, Francisco & Coville, Aidan & Fernandes, Ana M. & Goldstein, Markus & McKenzie, David, 2014. "Learning from the experiments that never happened: Lessons from trying to conduct randomized evaluations of matching grant programs in Africa," Journal of the Japanese and International Economies, Elsevier, vol. 33(C), pages 4-24.
    12. Rahman, Aminur, 2014. "Investment climate reforms and job creation in developing countries : what do we know and what should we do ?," Policy Research Working Paper Series 7025, The World Bank.
    13. Filipe Lage de Sousa & Gianmarco I.P. Ottaviano, 2018. "Relaxing credit constraints in emerging economies: The impact of public loans on the productivity of Brazilian manufacturers," International Economics, CEPII research center, issue 154, pages 23-47.
    14. Reeg, Caroline, 2015. "Micro and small enterprises as drivers for job creation and decent work," Discussion Papers 10/2015, German Development Institute / Deutsches Institut für Entwicklungspolitik (DIE).
    15. Benhassine, Najy & Raballand, Gaël, 2009. "Beyond ideological cleavages: A unifying framework for industrial policies and other public interventions," Economic Systems, Elsevier, vol. 33(4), pages 293-309, December.
    16. Grimm, Michael & Paffhausen, Anna Luisa, 2015. "Do interventions targeted at micro-entrepreneurs and small and medium-sized firms create jobs? A systematic review of the evidence for low and middle income countries," Labour Economics, Elsevier, vol. 32(C), pages 67-85.
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