Micro-Entrepreneurship Debt Level and Access to Credit: Short Term Impacts of a Financial Literacy Program
Claudia Martínez A.; Esteban Puentes
European Journal of Development Research, September 2018. Vol. 30, Issue Nº 4. Pages 613–629
Abstract: Using a randomized control trial, we evaluated the effect of a financial literacy program on the level of debt and on formal access to credit in Chile. We use a sample of beneficiaries of a publicly run micro-entrepreneurship program. We evaluated the program using administrative data with information on the debt level, interest rates, and new loans provided by the formal sector. The program tends to decreased debt level in the short run while increasing the probability of having formal debt. The program had effects in parts of the country where the take-up was higher and the implementation was smoother.
Keywords: financial literacy debt randomized evaluation micro entrepreneurship formal loanss
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