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Yang says remittances from workers abroad increase educational attainment for children

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Highlights

Deirdre Bloome wins ASA award for work on racial inequality and intergenerational transmission

Bob Willis awarded 2015 Jacob Mincer Award for Lifetime Contributions to the Field of Labor Economics

David Lam is new director of Institute for Social Research

Elizabeth Bruch wins Robert Merton Prize for paper in analytic sociology

Next Brown Bag

Monday, Oct 12
Joe Grengs, Policy & Planning for Social Equity in Transportation

Microfinance with Chinese Characteristics

Publication Abstract

Park, Albert F., and Changqing Ren. 2001. "Microfinance with Chinese Characteristics." World Development, 29(1): 3-62.

Analyzing household survey data from three microfinance program sites, we provide an early systematic assessment of Chinese microfinance programs, which have grown rapidly since 1994, are based on the Grameen model, and include an unprecedented large-scale government initiative. We examine the empirical propositions that underpin successful microfinance programs—reaching the poor (targeting), financial and operational performance (sustainability), and program benefits (impact). We find that nongovernmental programs perform well in all three areas, but that governmental programs perform poorly. Given the remote location and focus on agricultural projects in China's poor areas, we advocate greater flexibility in loan contract terms, especially repayment schedules.

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