| Abstract: |
This paper presents the impact evaluation of Crédito Productivo Individual
from Banco de Desarrollo Productivo S.A.M – government second-tier bank which
channels resources toward productive activities in Bolivia. This financial
product is specifically directed to micro and small enterprises in the
productive sector, concentrating mostly in the agriculture and manufacturing.
Taking into account differences in treatment received by beneficiaries, we use
multiple control groups – assuming unconfoundedness, to estimate impact on
family and production outcomes. The results show us that the main effects of
credit are observed in manufacturing sector. In this sector we find an impact
between 23% and 28% on machinery investment levels, which could be the
explanation for an observed impact higher than 20% on production value. On the
other hand, we only find effects in reducing input costs, suggesting that the
greatest impact in the agricultural sector could be the opening of financial
products to this group of producers. |