Microcredit has expanded rapidly since its beginnings in the last 1970s, but whether and how much it reduces poverty is the subject of intense debate. Generally it depends on how the program is implemented and the set of policies that regulate it. In this spirit, microcredit impacts in the...

We measure Malmquist index of total factor productivity (TFP) changes in the agricultural sector of Brazil and Argentina during 1971-2002. The TFP change index is further decomposed into efficiency change and technical change. We then compare the cumulative TFP growth and its components in both...

Microcredit has expanded rapidly since its beginnings in the last 1970s, but whether and how much it reduces poverty is the subject of intense debate. Generally it depends on how the program is implemented and the set of policies that regulate it. In this spirit, microcredit impacts in the...