Sorry it's been so quiet around here. I've been engrossed in things that have not made me think new thoughts about microfinance. One is rewriting the 20-month-old chapter 1, which has been a pleasure. I know more now, and am more confident.
The Boston Globe has an article today on what the latest impact studies tell us about microfinance. I really do think this article is well-done---clear-eyed and clearly written. But maybe I'm biased by being quoted in it.
It's been a tough season for the proposition that "microfinance is a proven and cost-effective tool to help the very poor lift themselves out of poverty and improve the lives of their families." In May came a randomized trial of microcredit in Hyderabad finding no impacts on poverty 15--18 months out.