000			01624nam a22001577a 4500
999			_c525539 _d525539
008			240321b ||||| |||| 00| 0 eng d
100			_aCrépon, Bruno Komi, Mohamed El and Osman, Adam _950696
245			_aIs it who you are or what you get? Comparing the impacts of loans and grants for microenterprise development
260			_aAmerican Economic Journal: Applied Economics
300			_a16(1), Jan, 2024: p.286-313
520			_aIs the type of financial support provided to businesses more important than which businesses receive it? Loans and grants can lead to differences in optimal investments and in scope for moral hazard. We randomize 3,293 business loan applicants into receiving a loan, cash grant, in-kind grant, or nothing. All treatments equally increase income, yet there are large differences within a treatment group with impacts concentrated at the top of the distribution. Those who succeed with loans are observationally equivalent to those who succeed with grants, showcasing that owner heterogeneity is more important than the type of support received in microenterprise development.- Reproduced https://www.aeaweb.org/articles?id=10.1257/app.20210683
650			_aFinancial support Business loans Cash grants In-kind grants Optimal investments Moral hazard Microenterprise development Income increase Owner heterogeneity Treatment groups Randomized control trial (RCT) Business support effectiveness Small business success Financial interventions Economic impact _950697
773			_aAmerican Economic Journal: Applied Economics
906			_aBUSINESS
942			_cAR