CGD Policy Blogs
...that according to the newest review of the evidence on the impact of microcredit (p. 73). The review was commissioned by the British aid agency DFID and carried out by British academics, all but one of whom (James Copestake) were based at the University of East Anglia.
It is common in economics, and I guess in the social sciences generally, for researchers to post their work in "working papers" before it has undergone the rigors of peer review at journals. Here at CGD, we researchers see working papers as the heart of what we do. The very first CGD publication was a working paper, by Bill Easterly on inequality. We've put out 260 more since.
I explained in May about the Slow-Motion Bankruptcy of microfinance institutions in India's Andhra Pradesh state. In retrospect, it may well be right to conclude that outstanding microloans in the state permanently lost most of their value last October, within days of the passage of the restrictive Ordinance.