The Impact of Microfinance Loans on Small Informal Enterprises in Madagascar

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dc.creatorGubert, Flore
dc.creatorRoubaud, Francois
dc.date2017-06-27T15:59:38Z
dc.date2017-06-27T15:59:38Z
dc.date2011-04
dc.date.accessioned2026-07-01T01:03:12Z
dc.descriptionThis paper analyses the impact of a microfinance institution (MFI) serving small informal enterprises in Antananarivo (Madagascar). The methodology consists of comparing over time the situation of a representative sample of clients' enterprises with a control group, constructed in an almost experimental way through a standard propensity-score matching technique. Overall, the results indicate a positive impact of the project. Taken as a snapshot, the evaluations successively conducted in 2001 and 2004 indicate that the clients' enterprises recorded better average performance than enterprises without funding. With a dynamic perspective however, the results are more nuanced. If the positive effect of the project is clear during growth phases, its effect during economic recessions appears less certain.
dc.formatapplication/pdf
dc.formattext/plain
dc.identifierhttp://documents.worldbank.org/curated/en/642841468339640191/The-impact-of-microfinance-loans-on-small-informal-enterprises-in-Madagascar-a-panel-data-analysis
dc.identifierhttps://hdl.handle.net/10986/27328
dc.identifierhttps://doi.org/10.1596/27328
dc.identifier.urihttp://hdl.handle.net/123456789/414741
dc.languageEnglish
dc.languageen_US
dc.publisherWorld Bank, Washington, DC
dc.rightsCC BY 3.0 IGO
dc.rightshttp://creativecommons.org/licenses/by/3.0/igo
dc.rightsWorld Bank
dc.subjectACCESS TO CAPITAL
dc.subjectACCESS TO CREDIT
dc.subjectACCESS TO FINANCE
dc.subjectACCESS TO FORMAL CREDIT
dc.subjectACCOUNTS
dc.subjectACCUMULATION RATE
dc.subjectADVANCED ECONOMY
dc.subjectAGRICULTURAL ECONOMICS
dc.subjectBANK CREDIT
dc.subjectBANK POLICY
dc.subjectBARRIERS TO ENTRY
dc.subjectBIASES
dc.subjectBORROWING
dc.subjectBUSINESS ACTIVITY
dc.subjectBUSINESS ASSOCIATIONS
dc.subjectBUSINESS ECONOMICS
dc.subjectBUSINESS OWNERS
dc.subjectBUSINESS RISK
dc.subjectCAPACITY BUILDING
dc.subjectCAPITAL ACCUMULATION
dc.subjectCAPITAL CONSTRAINT
dc.subjectCAPITAL COST
dc.subjectCAPITAL INJECTION
dc.subjectCAPITAL MARKET
dc.subjectCAPITAL REQUIREMENTS
dc.subjectCAPITAL RETURNS
dc.subjectCAPITAL SHORTAGES
dc.subjectCAPITAL STOCK
dc.subjectCHECKS
dc.subjectCOLLATERAL
dc.subjectCONTRACTUAL OBLIGATIONS
dc.subjectCOST OF CAPITAL
dc.subjectCREDIT CONSTRAINED FIRMS
dc.subjectCREDIT CONSTRAINT
dc.subjectCREDIT HISTORY
dc.subjectCREDIT INSTITUTIONS
dc.subjectCREDIT MARKET
dc.subjectCREDIT RATIONING
dc.subjectDEGREES OF RISK
dc.subjectDEMOGRAPHIC CHARACTERISTICS
dc.subjectDEVELOPING COUNTRY
dc.subjectDEVELOPMENT ECONOMICS
dc.subjectDIVERSIFICATION
dc.subjectDUMMY VARIABLE
dc.subjectDURABLE
dc.subjectDURABLE GOODS
dc.subjectEARNINGS
dc.subjectECONOMETRIC MODELS
dc.subjectECONOMIC CONSTRAINTS
dc.subjectECONOMIC DEVELOPMENT
dc.subjectECONOMIC GROWTH
dc.subjectECONOMIC POLICIES
dc.subjectECONOMIC STATISTICS
dc.subjectENDOWMENTS
dc.subjectENTERPRISE PERFORMANCE
dc.subjectENTREPRENEUR
dc.subjectENTREPRENEURIAL ACTIVITY
dc.subjectENTRY BARRIERS
dc.subjectEQUIPMENT
dc.subjectEXCESSIVE RISK
dc.subjectEXPECTED UTILITY
dc.subjectEXPECTED VALUE
dc.subjectEXPENDITURE
dc.subjectEXTERNAL FINANCE
dc.subjectFAMILY FINANCE
dc.subjectFAMILY LOANS
dc.subjectFARMERS
dc.subjectFEMALE ENTREPRENEURS
dc.subjectFINANCIAL MEANS
dc.subjectFINANCIAL RESOURCES
dc.subjectFINANCIAL SUPPORT
dc.subjectFIXED COSTS
dc.subjectFORMAL BANKS
dc.subjectGDP
dc.subjectGROUP OF FIRMS
dc.subjectGROWTH THEORY
dc.subjectHIGH INTEREST RATES
dc.subjectHOLDING
dc.subjectHOUSEHOLD WEALTH
dc.subjectHOUSEHOLDS
dc.subjectHUMAN CAPITAL
dc.subjectINCOME GROWTH
dc.subjectINFORMATION ASYMMETRIES
dc.subjectINFORMATION ON ENTREPRENEURS
dc.subjectINFORMATION ON INVESTMENT
dc.subjectINSTRUMENT
dc.subjectINSURANCE
dc.subjectINSURANCE MARKET
dc.subjectINSURANCE PRODUCTS
dc.subjectINTEREST RATE
dc.subjectINTERNAL FINANCE
dc.subjectINTERNAL FUNDS
dc.subjectINVENTORY
dc.subjectINVESTING
dc.subjectINVESTMENT BEHAVIOR
dc.subjectJOB CREATION
dc.subjectLABOR FORCE SURVEY
dc.subjectLABOR MARKET
dc.subjectLACK OF ACCESS
dc.subjectLEVEL OF RISK
dc.subjectLIQUID WEALTH
dc.subjectLIQUIDITY
dc.subjectLIQUIDITY CONSTRAINT
dc.subjectLIQUIDITY PREMIUM
dc.subjectLIQUIDITY PROBLEMS
dc.subjectLOAN
dc.subjectLOTTERY
dc.subjectMARGINAL COST
dc.subjectMARGINAL PRODUCT
dc.subjectMARGINAL UTILITY
dc.subjectMARGINAL UTILITY OF CONSUMPTION
dc.subjectMARKET CONSTRAINTS
dc.subjectMARKET ECONOMY
dc.subjectMARKET FAILURE
dc.subjectMARKET INTEREST RATE
dc.subjectMICRO DATA
dc.subjectMICRO ENTERPRISES
dc.subjectMICRO-CREDIT
dc.subjectMICRO-ENTERPRISE
dc.subjectMICRO-FINANCE
dc.subjectMICRO-FINANCE INSTITUTIONS
dc.subjectMICROCREDIT
dc.subjectMICROENTERPRISES
dc.subjectMIDDLE INCOME COUNTRIES
dc.subjectMONEYLENDERS
dc.subjectMORAL HAZARD
dc.subjectOPPORTUNITY COST
dc.subjectPHYSICAL CAPITAL
dc.subjectPOLITICAL ECONOMY
dc.subjectPORTFOLIO
dc.subjectPRICE RISK
dc.subjectPRICE UNCERTAINTY
dc.subjectPRODUCTION FUNCTION
dc.subjectPRODUCTIVE INVESTMENT
dc.subjectPROFITABILITY
dc.subjectPURCHASING POWER
dc.subjectPURCHASING POWER PARITY
dc.subjectRATE OF RETURN
dc.subjectRECEIPTS
dc.subjectREINVESTMENT
dc.subjectRETAINED EARNINGS
dc.subjectRISK AVERSION
dc.subjectRISK PERCEPTIONS
dc.subjectRISK PREMIUM
dc.subjectRISK-AVERSE INDIVIDUALS
dc.subjectSAFE ASSET
dc.subjectSAVINGS
dc.subjectSELF-EMPLOYMENT
dc.subjectSMALL BUSINESS
dc.subjectSMALL ENTERPRISES
dc.subjectSMALL-SCALE ENTREPRENEURS
dc.subjectSOURCE OF CREDIT
dc.subjectSOURCES OF FINANCE
dc.subjectSTART-UP
dc.subjectTAX
dc.subjectTAXIS
dc.subjectTRADE SECTOR
dc.subjectTRADING
dc.subjectTRANSITION COUNTRY
dc.subjectTRANSITION ECONOMY
dc.subjectTRUST FUND
dc.subjectUNION
dc.subjectVALUE ADDED
dc.subjectWEALTH
dc.titleThe Impact of Microfinance Loans on Small Informal Enterprises in Madagascar
dc.titleA Panel Data Analysis
dc.typeWorking Paper
dc.typeDocument de travail
dc.typeDocumento de trabajo

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