@TechReport{dp-490,
  author        = {Kislat, Carmen and Menkhoff, Lukas},
  astring       = {Carmen Kislat and Lukas Menkhoff},
  title         = {The Village Fund Loan: Who Gets It, Keeps It and Loses
                  It?},
  month         = {January},
  year          = {2012},
  pages         = {19},
  size          = {283},
  number        = {490},
  language      = {en},
  keywords      = {rural finance, informal financial institutions,
                  microfinance, Thailand},
  jelclass      = {O16, O17, G21},
  abstract      = {The village funds programme in Thailand is one of the
                  biggest microfinance programmes in the world aiming at
                  improving access to finance and income in rural areas.
                  Earlier studies indicate that the programme is successful
                  in realising its ambitions to some degree. We extend this
                  work by analysing a second wave of a household survey and
                  find that village fund borrowers are consistently
                  characterised by a lower economic status; accordingly
                  village fund loan are an important lifeline to those
                  households. However, we cannot identify any significant
                  substitution between village fund loans and other loans,
                  raising doubts about the long-run impact of the village
                  fund programme.}
}