Description: Re-Re-Reply to "The Impact of Microcredit on the Poor in Bangladesh : Revisiting the Evidence"

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Re-Re-Reply to "The Impact of Microcredit on the Poor in Bangladesh : Revisiting the Evidence"

"The Impact of Microcredit on the Poor in Bangladesh: Revisiting the Evidence," by David Roodman and Jonathan Morduch (2014) (henceforth RM) is the most recent of a sequence of papers and web postings that seeks to refute the findings of...

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Bibliographic Details
Main Author:	Pitt, Mark M.
Language:	English en_US
Published:	World Bank, Washington, DC 2014
Subjects:	AGRICULTURE BOOTSTRAP BORROWING CONSISTENT ESTIMATES CONSISTENT ESTIMATOR CONSTANT TERM COVARIANCE DEPENDENT VARIABLE DEVELOPMENT POLICY DEVELOPMENT RESEARCH DUMMY VARIABLE DUMMY VARIABLES ECONOMETRIC MODEL ECONOMETRIC MODELING ECONOMETRICS ECONOMICS ENDOGENOUS VARIABLES EQUATIONS ERROR ERROR TERM ERROR TERMS ERROR VARIANCE EXOGENOUS VARIABLES F-TEST FIXED EFFECTS FREE PARAMETERS INDEPENDENT VARIABLE INDEPENDENT VARIABLES INSTRUMENTAL VARIABLES INSTRUMENTAL VARIABLES ESTIMATION JOURNAL OF ECONOMETRICS KURTOSIS LIKELIHOOD FUNCTION LINEAR REGRESSION LOGARITHMS MATHEMATICS MATRICES MATRIX MAXIMUM LIKELIHOOD MAXIMUM LIKELIHOOD ESTIMATION MAXIMUM LIKELIHOOD ESTIMATOR MAXIMUM LIKELIHOOD ESTIMATORS MEAN VALUE 0 HYPOTHESIS NUMBER OF OBSERVATIONS OUTLIERS POLITICAL ECONOMY POLYNOMIALS POSITIVE EFFECTS PRECISION PREDICTION PROBABILITY RESEARCH WORKING PAPERS SAMPLE SIZE SCENARIO SENSITIVITY ANALYSIS SIMULATION SIMULATIONS SIMULTANEOUS EQUATIONS SKEWNESS SLOPE COEFFICIENTS SMALL SAMPLE STANDARD DEVIATION STANDARD DEVIATIONS STATA STATA CODE STATISTICAL MODELS STATISTICAL SIGNIFICANCE T-RATIO T-RATIOS TEST STATISTIC TEST STATISTICS WEALTH WEIGHTING
Online Access:	http://documents.worldbank.org/curated/en/2014/03/19228238/re-re-reply-impact-microcredit-poor-bangladesh-revisiting-evidence http://hdl.handle.net/10986/17297

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Summary:	"The Impact of Microcredit on the Poor in Bangladesh: Revisiting the Evidence," by David Roodman and Jonathan Morduch (2014) (henceforth RM) is the most recent of a sequence of papers and web postings that seeks to refute the findings of the Pitt and Khandker (1998; henceforth PK) article "The Impact of Group-Based Credit on Poor Households in Bangladesh: Does the Gender of Participants Matter?" that microcredit for women had significant, favorable effects on household consumption and other outcomes. In this version of RM, the authors have backed off many of their prior claims and methods after earlier replies noted their faults (see Pitt (1999), Pitt (2011a), Pitt (2011b), and Pitt and Khandker (2012)). Nonetheless, important claims against PK remain in this new version of RM and are addressed below. Readers should refer to Pitt and Khandker (2012) for a discussion of other issues with RM, including a discussion of the bimodal likelihood.