Microfinance and happiness

Leonardo Becchetti and Pierluigi Conzo

No 69-2010, AICCON Working Papers from Associazione Italiana per la Cultura della Cooperazione e del Non Profit

Abstract: Microfinance institutions are used to claim that their impact goes beyond money since rescuing from exclusion uncollateralized poor borrowers significantly affects their dignity, self-esteem, social recognition and, through it, life satisfaction. Our paper aims to verify indirectly this claim by evaluating whether access to microfinance loans has significant impact on life satisfaction beyond its indirect impact via income changes. Our empirical findings on a sample of poor borrowers in the suburbs of Buenos Aires show that, after controlling for survivorship bias, the number of credit cycles has a significant and positive effect on life satisfaction.

Keywords: microfinance; happiness; impact study (search for similar items in EconPapers)
Pages: 25 pages
Date: 2010-01-18
New Economics Papers: this item is included in nep-mfd
Note: Reference authors: leonardo.becchetti@uniroma2.it pierluigi.conzo@uniroma2.it
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Citations: View citations in EconPapers (1)

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Related works:
Working Paper: Credit access and life satisfaction: evaluating the non monetary effects of micro finance (2010)
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Persistent link: https://EconPapers.repec.org/RePEc:ris:aiccon:2010_069

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