MICROCREDIT WAS EFFECTIVE IN REDUCING POVERTY AND EMPOWERING WOMEN AT SUBNATIONAL LEVEL IN BOLIVIA: EVIDENCE FROM A QUASI-EXPERIMENTAL BAYESIAN SPATIAL MODEL

Gonzales et al. (2017) developed a quasi-experimental Bayesian spatial model to assess the social impact of microcredit at municipal level in Bolivia and found that microfinance had a positive impact on poverty reduction and empowerment of women in this country. Furthermore, the paper discusses the findings within the context of the guidelines of Bolivia’s Financial Services Law and Patriotic Agenda 2025.