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Comment(s)

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1. Khan Hidayat Ullah
   (posted 23 November 2006 / 10:14:28 PM)
   
   Econometric Model Selection:
   
   I went through your paper and really liked the approach adopted by you while found your results interesting as well.
   
   I have one comment to make. When it comes the components of microfinance pertaining to the term of loan, e.g., amount, duration and repayment mode, in practice these factors are determined by the both the borrower and lender through negotiation between line staff of MFI and Managers of CBOs. This results into adoption of resolution by members in joint meeting held by field staff MIF and CBO.
   
   Keeping these factors in view, the claim that an explanatory variable relating to terms of micro-credit is exogenous becomes doubtful. This creates endogenity problems in the model and the results which are estimated by this model can not be claimed as unbiased.
   
   In you model you have used variables like amounts of loan and times of loans borrowed in past, which brings in endogenity problem in the model and leads to biased estimates, if I am correct? I would like to know how you addressed this problem in your econometric model. If not what kind of instrumental variable you intend to use in order to deal with situation will.