| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP15768 |
| DP15768 Asset-based Microfinance for Microenterprises: Evidence from Pakistan | |
| Faisal Bari; Kashif Malik; Muhammad Meki; Simon Quinn | |
| 发表日期 | 2021-02-05 |
| 出版年 | 2021 |
| 语种 | 英语 |
| 摘要 | We conduct a field experiment offering graduated microcredit clients the opportunity to finance a business asset worth four times their previous borrowing limit. We implement this using a hire-purchase contract; our control group is offered a zero-interest loan. We find large, significant and persistent effects from asset finance contracts: treated microenterprise owners run larger businesses and enjoy higher profits; consequently, household consumption increases, particularly on food and children's education. A dynamic structural model with non-convex capital adjustment costs rationalises our results; this highlights the potential for welfare improvements through large capital injections that are financially sustainable for microfinance institutions. |
| 主题 | Development Economics ; Financial Economics |
| 关键词 | Microfinance Randomized field experiment Capital adjustment costs |
| URL | https://cepr.org/publications/dp15768 |
| 来源智库 | Centre for Economic Policy Research (United Kingdom) |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/544769 |
| 推荐引用方式 GB/T 7714 | Faisal Bari,Kashif Malik,Muhammad Meki,et al. DP15768 Asset-based Microfinance for Microenterprises: Evidence from Pakistan. 2021. |
| 条目包含的文件 | 条目无相关文件。 | |||||
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