Szafarz, Ariane; Armendariz, Beatriz; D'Espallier, Bert; … - Centre Emile Bernheim, Solvay Brussels School of … - 2011
on the other. Under the fear that subsidies can dry up, MFIs lend to wealthier clients in order to build precautionary … 1999-2006. Using both cross-section and panel-data regressions, we estimate the effect of subsidies on poverty reduction as … proxied by average loan size, interest rates, and outreach. Our results suggest that more subsidies are associated with …