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Abstract: After Pitt (2011) pointed out the flaws in the RM replication effort, Roodman subsequently notes “that when we fix our regressions, they continue to fail tests of the assumptions needed to infer causality. So improving the match to the original greatly strengthens our conclusion that this study does not convincingly demonstrate an impact of microcredit on poverty.” This claim is based on RM's tests of overidentifying restrictions, which the current response demonstrates are fundamentally flawed. New results presented below provide strong support to the hypothesis that microfinance causally improves the lives of participant. Link-