REAL Microcredit: Brazilian and Chilean Cases Patricio A. Aroca IDEAR – CATHOLIC UNIVERSITY OF THE NORTH, CHILE REAL – UNIVERSITY OF ILLINOIS, USA.

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Presentation transcript:

REAL Microcredit: Brazilian and Chilean Cases Patricio A. Aroca IDEAR – CATHOLIC UNIVERSITY OF THE NORTH, CHILE REAL – UNIVERSITY OF ILLINOIS, USA

Motivation and aim Current characteristics: Outreach – Who are getting the micro-credit? Practices - Are the MFI using the best practices? This work attempts to asses the direct impact of microcredit programs on the micro entrepreneurs and the economy

The Microcredit Market Distribution of Income Bank Clients (Graph 1: Chile) NGO Clients (Graph 2: Chile) NGO v/s Bank (Graph 3: Chile) NGO, Bank, Control Group, Total (Graph 4: Brazil) Best Practices: Lending/Saving Group

Bank Clients (Graph 1: Chile)

NGO Clients (Graph 2: Chile)

NGO v/s Bank (Graph 3: Chile)

NGO, Bank, Control Group, Total (Graph 4: Brazil)

Best Practices: Lending Group

Education

Methodology Impact Assessment Problem: Group Comparison (Hulme, 2000) Method: Propensity Score to characterized people (Probit) Matching Estimator ( Rosenbaum and Rubin,1983) The average treatment effect on the treated Data Own Survey to Micro-Entrepreneurs CASEN 2000, Chile PNAD 1999, Brazil

Results for Brazil

Microcredit Program Evaluation Brazil Chile Microcredit Impact Banks NGOs Bank NGO Zero % 2.0% 0.0% 13.3% Positive % 98.0% 100.0% 83.3% Negative % 0.0% 0.0% 3.3% Total %

Conclusion Collateral versus Lending Group Determinant of the outreach Policy: Fix the incentives in a way that lending group be a common practices Education and Training Programs are not as important as we expected The impact of the microcredit is positive, especially in Brazil. Policy: Increase the size of the microcredit industry.