Microcredit Under the Microscope: What Have We Learned in the Past Two Decades, and What Do We Need to Know?
回顾微型信贷研究二十年的进展，探讨其本质是投资、消费还是储蓄，以及为何投资未带来收入增长等问题，并指出未来研究的关键方向。
Research on microcredit is now two decades old. There has been enormous progress in understanding both what microcredit does and how. Yet a lot of what we have learned has raised new and often quite fundamental questions about its nature: Is microcredit primarily about investment, consumption, or savings? Why is it that the investments financed by microcredit do not always lead to income growth, and does this have to do with the structure of microlending? What are the roles of social capital, reputation, and group lending? This article attempts to take stock of this significant body of work and tries to identify the most important questions for future research.