@techreport{Disney2010introduction,
abstract = {This paper uses household data to test whether microfinance institutions created by the Malawian government in the mid-1990s under its Poverty Alleviation Programme crowded out access to informal loans. As in several recent studies, the paper adopts policy evaluation techniques to identify a causal relationship between access to government-sponsored credit programmes and informal loans. After taking treatment heterogeneity into account with a multiple treatment model, the paper finds strong evidence of crowding out of formal group lending on informal sources. In particular, participation in the most widespread microfinance programme has a negative and significant effect on borrowing from informal sources, reducing on average the amount that members borrow from informal lenders by more than 70 percent of the average loan value.},
address = {Nottingham},
author = {Richard Disney and Eleonora Fichera and Trudy Owens},
copyright = {http://www.econstor.eu/dspace/Nutzungsbedingungen},
keywords = {O16; O17; 330; informal lending; microfinance; evaluation methods; Armutspolitik; Mikrofinanzierung; Finanzmarkt; Crowding out; Malawi},
language = {eng},
number = {10/08},
publisher = {Centre for Research in Economic Development and International Trade, Univ. of Nottingham},
title = {Has the introduction of microfinance crowded-out informal loans in Malawi?},
type = {CREDIT Research Paper},
url = {http://hdl.handle.net/10419/65427},
year = {2010}
}
