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 |
| Date of revision: | |
| Handle: | RePEc:ris:aiccon:2010_069 |
| Note: | Reference authors: leonardo.becchetti@uniroma2.it pierluigi.conzo@uniroma2.it |
| Contact details of provider: | Postal: 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
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Gardner, Jonathan & Oswald, Andrew, 2004. "How is mortality affected by money, marriage, and stress?," Journal of Health Economics, Elsevier, vol. 23(6), pages 1181-1207, November.
- Robert J. MacCulloch & Rafael Di Tella & Andrew J. Oswald, 2001.
"Preferences over Inflation and Unemployment: Evidence from Surveys of Happiness,"
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American Economic Association, vol. 91(1), pages 335-341, March.
- DiTella, Rafael & MacCulloch, Robert & Oswald, Andrew J., 2001. "Preferences over inflation and unemployment: Evidence from surveys of happiness," ZEI Working Papers B 03-2001, ZEI - Center for European Integration Studies, University of Bonn.
- Armendariz de Aghion, Beatriz, 1999. "On the design of a credit agreement with peer monitoring," Journal of Development Economics, Elsevier, vol. 60(1), pages 79-104, October.
- repec:dgr:uvatin:20040024 is not listed on IDEAS
- Ada Ferrer-i-Carbonell & Paul Frijters, 2004. "How Important is Methodology for the estimates of the determinants of Happiness?," Economic Journal, Royal Economic Society, vol. 114(497), pages 641-659, 07.
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