The Impacts of Credit on Village Economies
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چکیده
This paper evaluates the short-term impact of Thailand’s ‘Million Baht Village Fund’program, among the largest scale government microfinance iniative in the world, using preand post-program panel data and quasi-experimental cross-village variation in credit-per-household. We find that the village funds have increased total short-term credit, consumption, agricultural investment, income growth (from business and labor), but decreased overall asset growth. We also find a positive impact on wages, an important general equilibrium effect. The findings are broadly consistent qualitatively with models of credit-constrained household behavior and models of intermediation and growth.
منابع مشابه
The Impacts of Credit on Village Economies
This paper evaluates the short-term impact of Thailand's 'Million Baht Village Fund' program, among the largest scale government microfinance iniative in the world, using preand post-program panel data and quasi-experimental cross-village variation in credit-perhousehold. We find that the village funds have increased total shortterm credit, consumption, agricultural investment, income growth (f...
متن کاملThe Impact of Credit on Village Economies.
This paper evaluates the short-term impact of Thailand's 'Million Baht Village Fund'program, among the largest scale government microfinance iniative in the world, using pre- and post-program panel data and quasi-experimental cross-village variation in credit-per-household. We find that the village funds have increased total short-term credit, consumption, agricultural investment, income growth...
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