Microfinance and happiness
Microfinance 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 indirectly this claim by evaluating whether access to microfinance loans has significant impact on life satisfaction beyond its indirect impact via income changes. Our empirical findings on a sample of poor borrowers in the suburbs of Buenos Aires show that, after controlling for survivorship bias, the number of credit cycles has a significant and positive effect on life satisfaction.
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| Length: | 25 pages |
| Date of creation: | 18 Jan 2010 |
| Handle: | RePEc:ris:aiccon:2010_069 |
| Note: | Reference authors: leonardo.becchetti@uniroma2.it pierluigi.conzo@uniroma2.it |
| Contact details of provider: | Postal: P.le della Vittoria, 15 - 47100 Forlì, Italy Phone: +39 0543 62327 Fax: +39 0543 374676 Web page: http://www.aiccon.it/ Email: More information through EDIRC
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References listed on IDEAS
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