ABSTRACT

This paper investigates the cumulative effect of successive borrowing from Première Agency de Microfinance-Côte d’Ivoire (PAMF-CI) on MSMEs[i] in Côte d’Ivoire. It employs a non-experimental approach to compare established clients with new clients.After controlling for key observable characteristics of these MSMEs, the findings suggest that there are cumulative positive effects associated with longer programme participation, and graduation from first to second and subsequent larger loans is a strong determinant of business performance and business profitability. The results also indicate that men benefit more than women, with gender being the key factor driving the differential impact in this relationship.

摘要

本文研究了从 Première Agency de Microfinance-Côte d'Ivoire (PAMF-CI) 连续借款对科特迪瓦 MSME[i] 的累积影响。它采用非实验方法来比较老客户和新客户。在控制了这些 MSME 的主要可观察特征后，研究结果表明，与长期参与计划、从第一笔贷款到第二笔贷款以及随后的更大贷款相关的累积积极影响是业务绩效和业务盈利能力的重要决定因素。结果还表明，男性比女性受益更多，性别是推动这种关系产生不同影响的关键因素。