This study examines whether household access to microfinance reduces poverty in Pakistan and, if so, how and to what extent. It draws on primary empirical data gathered by interviewing 1132 households, including both borrower and non-borrower households, in 2008–2009. Sample selection biases have been partially controlled for by using propensity score matching. The study reveals that microfinance programmes had a positive impact on the participating households. Poverty-reducing effects were observed on a number of indicators, including expenditure on healthcare, clothing and household income, and on certain dwelling characteristics, such as water supply and the quality of roofing and walls

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KatsusBrook ISBN : ersity of Ma @bcs.org.uk esponding ersity of Ba i@bath.ac.u ersity of Ma Kobe Unive shi.imai@m ks World Po : 978-1-907 anchester, k author ath, UK uk anchester, ersity, Japa manchester. overty Insti 7247-72-9 UK UK and an .ac.uk itute Micro A Is K J B Creat ofinance reduct Asad K. G ssam Ma Katsushi June 201 BWPI Wo ting and sh ww e and its tion: find Ghalib 1* alki 2 S. Imai 3 2 orking Pa haring know ww.manche role in h dings from 3 aper 173 wledge to h ester.ac.uk/ househol m Pakist help end po /bwpi ld povert tan overty ty Abstract This study examines whether household access to microfinance reduces poverty, and if so , to what ext ent and acros s which dim ensions of wellbe ing. T he st udy draws on f irst-hand observations and empirical dat a gathered from interviews of 1,132 households acro ss 11 dist ricts in t he rural areas of the province of Punjab in Pakistan. It employs a quasi-exp erimental research design and makes use of data collected b y int erviewing bot h borrower (t reatment) and non-borrower (control) ho useholds. Sample select ion biases are cont rolled b y ma tching propensity s cores. Findings reveal that al though borrowers seem to fare bett er than non-borrowers a cross around 70 percent of t he indicat ors, a majority o f these are n ot statistically significant. This suggest s that despite producing some degree of posit ive impact, microfinance inst itutions st ill have t o make s ustained efforts to bring about real difference to the livelihoods of the poor.