Win Some Lose Some? Evidence from a Randomized Microcredit Program Placement Experiment by Compartamos Banco

Thanks to Tim Conley for collaboration and mapping expertise. Thanks to Innovations for Poverty Action staff, including Alissa Fishbane, Andrew Hillis, Elana Safran, Rachel Strohm, Braulio Torres, Asya Troychansky, Irene Velez, Sanjeev Swamy, Matthew White, Glynis Startz, and Anna York, for outstanding research and project management assistance. Thanks to Dale Adams, Abhijit Banerjee, Esther Duflo, Jake Kendall, Melanie Morten, David Roodman and participants in seminars at M.I.T./Harvard and NYU for comments. Thanks to Compartamos Banco, the Bill and Melinda Gates Foundation and the National Science Foundation for funding support to the project and researchers. All opinions are those of the researchers, and not the donors, Compartamos Banco, or the National Bureau of Economic Research. The research team has retained complete intellectual freedom from inception to conduct the surveys and estimate and interpret the results (contract available upon request).