Ideas to Action:

Independent research for global prosperity

CGD Policy Blogs


Book Launch Event January 5

The Center for Global Development and Consultative Group to Assist the Poor present

Due Diligence: An Impertinent Inquiry into Microfinance

The Logging Business

In March, Mark Pitt leveled two major charges at the attempt by Jonathan Morduch and myself to replicate the Pitt & Khandker assessment of microcredit. Both charges highlighted discrepancies between our version of the statistical analysis and the original. One of those was that we left out a control variable (this post explains the error without excusing it). The other I will explicate now in a nontechnical way.

Bimodality in the Wild: Latest on Pitt & Khandker

You may know that when I began my inquiry into microfinance I found myself drawn into scrutinizing what were then the leading studies of the impact of microcredit. The strategy was to reproduce ("replicate") those studies on my own computer as well as I could. In 2009, I wrote a paper with Jonathan Morduch that built on his earlier work in this vein, and argued that the leading studies had not, after all, succeeded in measuring impacts.