“…Data and statistical methods are questioned (see e.g. the 15-years-and-ongoing dispute in Pitt, 2014;Pitt and Khandker, 1998;Roodman and Morduch, 2014), and some studies even suggest a lack of any significant effect (Nghiem, Coelli and Rao, 2012). Other studies find that microfinance is effective but that the poorest borrowers benefit less than less-poor borrowers (Islam, Nguyen and Smyth, 2015), particularly when longer time periods are taken into account (Banerjee, Breza, Duflo and Kinnan, 2015).…”