Rethinking the Effects of Microcredit on Household Welfare in Cambodia
利用2014年柬埔寨社会经济调查数据，分析正规与非正规小额信贷对家庭人均支出的影响，发现两者均降低了家庭支出。
This article analyses the effects of microcredit on household welfare in terms of household expenditure per capita in Cambodia, with data from the Cambodia Socio-Economic Survey carried out in 2014. The analysis describes the effects via formal and informal lending sectors, accounting for endogenous selection bias arising from unobserved factors and for structural differences between borrowers and non-borrowers in terms of expenditure functions. The findings suggest that microcredit in both sectors reduces household expenditure.