Among countries in Sub-Saharan Africa, Mozambique ranks among the highest with respect to gender inequality. As genderized access to microcredit can be a driver of gender inequality in general, this paper considers how gender conditions access to microcredit and macrocredit in Mozambique. With diary data on financial activities among individuals in Mozambican smallholder households, we estimate the quantile treatment effect of being a woman on the receipt of microcredit. Methodologically, our quantile treatment framework enables an analysis of loan size based upon the actual size distribution of monetary loans among smallholder households in Mozambique. Parameter estimates reveal that being a woman in Mozambique has a positive treatment effect on two types of informal loans in the top quantiles of the loan size distribution. This suggests that in Mozambique, to the extent that loans in the top quantiles are made to entereprenuers, microcredit can potentially catalyse gender-inclusive economic growth and development.

Agbodji, A.E., Batana, Y.M. and Ouedraogo, D. (2015) ‘Gender inequality in multidimensional welfare deprivation in West Africa’, International Journal of Social Economics 42(11): 980–1004. doi: 10.1108/IJSE-11-2013-0270.

Agier, I. and Szafarz, A. (2013) ‘Microfinance and gender: Is there a glass ceiling on loan size?’, World Development 42:165–181. doi: 10.1016/j.worlddev.2012.06.016

Akudugu, M.A. (2016) ‘Agricultural productivity, credit and farm size nexus in Africa: A case study of Ghana’, Agricultural Finance Review 76(2): 288–308. doi: 10.1108/AFR-12-2015-0058.

Alvi, E. and Seife Dendir, S. (2009) ‘Private transfers, informal loans and risk sharing among poor urban households in Ethiopia’, Journal of Development Studies 45(8):1325–1343.

Anderson, J. and Ahmed, W. (2016) ‘Smallholder diaries: Building the Evidence base with farming families in Mozambique, Tanzania, and Pakistan’, Perspectives, 2. Available at: https://www.cgap.org/sites/default/files/researches/documents/CGAP_Persp2_Apr2016-R.pdf (Accessed: 2 April 2019).

Arndt, C., James, R.C. and Simler, K.R. (2006) ‘Has economic growth in Mozambique been pro-poor?’, Journal of African Economies 15: 571–602. Available at: https://doi.org/10.1093/jae/ejk011 or https://academic.oup.com/jae/article-abstract/15/4/571/2357609 (Accessed: 2 April 2019).

Aryeetey, E. (2005) ‘Informal finance for private sector development in Sub-Saharan Africa’, Journal of Microfinance/ESR Review 7: 13–34. Available at: https://scholarsarchive.byu.edu/esr/vol7/iss1/3 (Accessed: 2 April 2019).

Asongu, S.A. (2015) ‘Financial sector competition and knowledge economy: Evidence from SSA and MENA countries’, Journal of the Knowledge Economy 6(4):717–748. doi: 10.1007/s13132-012-0141-4.

Aterido, R., Beck, T. and Iacovone, L. (2013) ‘Access to finance in Sub-Saharan Africa: Is there a gender gap?’, World Development 47:102–120. Available at: https://doi.org/10.1016/j.worlddev.2013.02.013 (Accessed: 2 April 2019).

Bahta, Y.T., Strydom, D.B. and Donkor, E. (2017) ‘Microcredit and gender empowerment: Policy implications for sustainable agricultural development in Eritrea’, Development in Practice 27(1): 90–102. doi: 10.1080/09614524.2017.1259393.

Baiyegunhi, L.J.S. and Fraser, G.C.G. (2014) ‘Smallholder farmers’ access to credit in the Amathole District Municipality, Eastern Cape Province, South Africa’, Journal of Agriculture and Rural Development in the Tropics and Subtropics 115: 79–89. Available at: https://www.jarts.info/index.php/jarts/article/view/2014121946870 (Accessed: 2 April 2019).

Baker, M.J., Powell, D. and Smith, T.A. (2016) ‘GENQREG: Stata Module To Perform Generalized Quantile Regression’. Available at: https://econpapers.repec.org/software/bocbocode/S458158.htm (Accessed: 2 April 2019).

Banerjee, A.V. and Duflo, E. (2014) ‘Do firms want to borrow more? Testing credit constraints using a directed lending program’, Review of Economic Studies 81(2): 572–607. Available at: https://doi.org/10.1093/restud/rdt046 (Accessed: 2 April 2019).

Banerjee, A., Karlan, D. and Zinman, J. (2015) ‘Six Randomized Evaluations of Microcredit: Introduction and Further Steps’, American Economic Journal: Applied Economics 7: 1–21.

Bangoura, L. et al. (2016) ‘Impact of Microfinance on poverty and inequality: A heterogeneous panel causality analysis’, Revue d’economie Politique 126: 789–818. Available at: https://www.cairn.info/revue-d-economie-politique-2016-5-page-789.htm (Accessed: 2 April 2019).

Belwal, R., Tamiru, M. and Singh, G. (2012) ‘Microfinance and sustained economic improvement: Women small-scale entrepreneurs in Ethiopia’, Journal of International Development 24: S84–S99. doi: 10.1002/jid.1782.

Bussey, T.R., Elu, J.U. and Price, G.N. (2014) ‘Do inequality-based entry barriers deter the formation of female-owned firms in Nigeria?’ In Private Sector Development in West Africa, (Ed. Diery Seck), pp. 129–138, Springer International Publishing, Cham CH.

Corsi, M. and De Angelis, M. (2017) ‘Gender discrimination in microfinance? Some evidence from Uganda’, The Journal of Development Studies 53(5): 723–740. doi: 10.1080/00220388.2016.1205733.

Cunguara, B. (2012) ‘An exposition of development failures in Mozambique’, Review of African Political Economy 39(131): 161–170. doi: 10.1080/03056244.2012.657881.

Cunguara, B. and Hanlon, J. (2012) ‘Whose wealth is it anyway? Mozambique’s outstanding economic growth with worsening rural poverty’, Development and Change 43(3): 623–647. doi: 10.1111/j.1467-7660.2012.01779.x.

Ding, Z. and Abdulai A. (2018). ‘Smallholder Preferences and willingness-to-pay measures for microcredit: Evidence from Sichuan Province in China’, China Agricultural Economic Review 10(3): 462–481.

Duflo, E. (2012) ‘Women empowerment and economic development’, Journal of Economic Literature 50(4): 1051–1079. doi: 10.1257/jel.50.4.1051.

Fernández, R. (2014) ‘Women’s rights and development’, Journal of Economic Growth 19(1): 37–80. doi: 10.1007/s10887-013-9097-x.

Fofana, N.B. et al. (2015) ‘How microfinance empowers women in Côte d’Ivoire’, Review of Economics of the Household 13(4): 1023–1041. doi: 10.1007/s11150-015-9280-2.

Frölich, M. and Melly, B. (2010) ‘Estimation of quantile treatment effects with Stata’, Stata Journal 10: 423–457. Available at: https://doi.org/10.1177/1536867X1001000309 (Accessed: 2 April 2019).

Giesbert, L. and Schindler, K. (2012) ‘Assets, shocks, and poverty traps in rural Mozambique’, World Develpment 40: 1594–1609. Available at: https://doi.org/10.1016/j.worlddev.2012.04.002 (Accessed: 2 April 2019).

Gorodnichenko, Y. and Schnitzer, M. (2013) ‘Financial constraints and innovation: Why poor countries don’t catch up’, Journal of the European Economic Association 11(5): 1115–1152. Available at: https://doi.org/10.1111/jeea.12033 (Accessed: 2 April 2019).

Hansen, H. and Rand, J. (2014) ‘Estimates of gender differences in firm’s access to credit in Sub-Saharan Africa’, Economics Letters 123: 374–377. Available at: https://doi.org/10.1016/j.econlet.2014.04.001 (Accessed: 2 April 2019).

Hermes, N. (2014) ‘Does microfinance affect income inequality?’, Applied Economics 46(9): 1021–1034. doi: 10.1080/00036846.2013.864039.

Hingston, C.A. (2016) ‘Towards gender equality in Africa: a review of Aspiration 6 in Agenda 2063’, Journal of African Union Studies 5: 39–49. Available at: https://hdl.handle.net/10520/EJC197892 (Accessed: 2 April 2019).

Human Development Report 2016: Human Development For Everyone. United Nations Development Programme, New York, NY.

Jahan, S. (2017) ‘Human Development Report 2016-Human Development for Everyone’. Available at: http://hdr.undp.org/sites/default/files/2016_human_development_report.pdf (Accessed: 2 April 2019).

Kabeer, N. (2005) ‘Gender equality and women’s empowerment: A critical analysis of the third millennium development goal 1’, Gender & Development 13(1):13–24. doi: 10.1080/13552070512331332273.

Karlan, D. and Zinman, J. (2011) ‘Microcredit in theory and practice: Using randomized credit scoring for impact evaluation’, Science 332: 1278–1284. doi: 10.1126/science.1200138.

Khandker, S.R. (2005) ‘Microfinance and poverty: Evidence using panel data from Bangladesh’, World Bank Economic Review 19: 263–286. Available at: https://doi.org/10.1093/wber/lhi008 (Accessed: 2 April 2019).

Koenker, R. and Basset, G. (1978) ‘Regression quantiles’, Econometrica 46: 33–50. doi: 10.2307/1913643.

Koloma, Y. and Alia, H. (2014) ‘Gendered impact of microcredit in Mali: An evaluation by propensity score matching’, Strategic Change 23(7–8): 517–530. doi: 10.1002/jsc.1993.

Kusi, A., Opata, C.N. and Narh, T.W.J., (2015). ‘Exploring the factors that hinder the growth and survival of small businesses in Ghana (a case study of small businesses within Kumasi metropolitan area)’, American Journal of Industrial and Business Management 5(11): 705–723.

Mitra, A., Bang, J.T. and Biswas, A. (2015) ‘Gender equality and economic growth: Is it equality of opportunity or equality of outcomes?’, Feminist Economics 21(1): 110–135. doi: 10.1080/13545701.2014.930163.

Mosley, P. and Rock, J. (2004) ‘Microfinance, labour markets and poverty in Africa: A study of six institutions’, Journal of International Development 16(3): 467–500. doi: 10.1002/jid.1090.

Nanziri, E.L. (2016) ‘Financial inclusion and welfare in South Africa: Is there a gender gap?’ Journal of African Development 18: 109–134.

Nega, B. and Schneider, G. (2014) ‘Social entrepreneurship, microfinance, and economic development in Africa’, Journal of Economic Issues 48(2): 367–376. doi: 10.2753/JEI0021-3624480210.

Nwosu, E.O. and Orji, A. (2017) ‘Addressing poverty and gender inequality through access to formal credit and enhanced enterprise performance in Nigeria: An empirical investigation’, African Development Review 29(S1): 56–72. doi: 10.1111/1467-8268.12233.

Orji, M.G. (2017) ‘The role of bank of agriculture in financing small scale agricultural enterprises in Nigeria’, Pakistan Research Journal of Management 1: 1–10. Available at: https://www.academia.edu/33068870/The_Role_of_Bank_of_Agriculture_in_Financing_Small_scale_Agricultural_Enterprises_in_Nigeria (Accessed: 2 April 2019).

Powell, D. (2010) ‘Unconditional quantile treatment effects in the presence of covariates’, RAND Labor and Population Working Paper. Available at: https://www.rand.org/content/dam/rand/pubs/working_papers/2010/RAND_WR816.pdf (Accessed: 2 April 2019).

Powell, D. (2016) ‘Quantile treatment effects in the presence of covariates’. RAND Working Paper, Santa Monica, CA.

Powell, D. (2017) ‘Quantile treatment effects in the presence of covariates’, RAND Labor and Population Working. Available at: https://works.bepress.com/david_powell/4/download/ (Accessed: 2 April 2019).

Rees, R. and Riezman, R. (2012) ‘Globalization, gender and growth’, Review of Income and Wealth 58(1): 107–117. doi: 10.1111/j.1475-4991.2011.00483.x.

Sagamba, M. Shchetinin, O. and Yusupov, N. (2013) ‘Do microloan officers want to lend to the less advantaged? Evidence from a choice experiment’, World Development 42: 182–198.

Sarwosri, A.W., Römer, U. and Musshoff, O. (2016) ‘Are African female farmers disadvantaged on the microfinance lending market?’, Agricultural Finance Review 76(4): 477–493. doi: 10.1108/AFR-02-2016-0012.

Schindler, K. (2010). ‘Credit for what? Informal credit as a coping strategy of market women in Northern Ghana’, Journal of Development Studies 46(2): 234–253.

Schreiner, M. (2001) ‘Informal finance and the design of microfinance’, Development in Practice 11: 637–640.

Sebatta, C., Wamulume, M. and Mwansakilwa, C. (2014) ‘Determinants of smallholder farmers’ access to agricultural finance in Zambia’, Journal of Agricultural Science 6: 63–73. Available at: http://dx.doi.org/10.5539/jas.v6n11p63 (Accessed: 2 April 2019).

Seguino, S. and Were, M. (2014) ‘Gender, development and economic growth in Sub-Saharan Africa’, Journal of African Economies 23: i18–i61. Available at: https://doi.org/10.1093/jae/ejt024 (Accessed: 2 April 2019).

Shamshad, A. (2015) ‘Working condition of houseless population in Kanpur City’, Indian Journal of Regional Science 47: 1–16. Available at: https://www.researchgate.net/profile/Shamshad2/publication/306032014_Working_Condition_of_Houseless_Population_in_Kanpur_City/links/57ab5d0f08ae42ba52aed925/Working-Condition-of-Houseless-Population-in-Kanpur-City.pdf (Accessed: 2 April 2019).

Seibel, H.D. (2014) ‘The continued relevance of informal finance in development’. World Politics, July 1, www.world.politicsreview.com/articles/13891.

Steel, W.F. et al. (1997) ‘Informal financial markets under liberalization in four African countries’, World Develpment 25: 817–830. Available at: https://doi.org/10.1016/S0305-750X(96)00133-7 (Accessed: 2 April 2019).

The Global Findex Database 2017: Measuring Financial Inclusion and the Fintech Revolution. 2018. International Bank For Reconstruction and Development/World Bank, Washington, DC.

Agbodji, A.E., Batana, Y.M. and Ouedraogo, D. (2015) ‘Gender inequality in multidimensional welfare deprivation in West Africa’, International Journal of Social Economics 42(11): 980–1004. doi: 10.1108/IJSE-11-2013-0270.

Agier, I. and Szafarz, A. (2013) ‘Microfinance and gender: Is there a glass ceiling on loan size?’, World Development 42:165–181. doi: 10.1016/j.worlddev.2012.06.016

Akudugu, M.A. (2016) ‘Agricultural productivity, credit and farm size nexus in Africa: A case study of Ghana’, Agricultural Finance Review 76(2): 288–308. doi: 10.1108/AFR-12-2015-0058.

Alvi, E. and Seife Dendir, S. (2009) ‘Private transfers, informal loans and risk sharing among poor urban households in Ethiopia’, Journal of Development Studies 45(8):1325–1343.

Anderson, J. and Ahmed, W. (2016) ‘Smallholder diaries: Building the Evidence base with farming families in Mozambique, Tanzania, and Pakistan’, Perspectives, 2. Available at: https://www.cgap.org/sites/default/files/researches/documents/CGAP_Persp2_Apr2016-R.pdf (Accessed: 2 April 2019).

Arndt, C., James, R.C. and Simler, K.R. (2006) ‘Has economic growth in Mozambique been pro-poor?’, Journal of African Economies 15: 571–602. Available at: https://doi.org/10.1093/jae/ejk011 or https://academic.oup.com/jae/article-abstract/15/4/571/2357609 (Accessed: 2 April 2019).

Aryeetey, E. (2005) ‘Informal finance for private sector development in Sub-Saharan Africa’, Journal of Microfinance/ESR Review 7: 13–34. Available at: https://scholarsarchive.byu.edu/esr/vol7/iss1/3 (Accessed: 2 April 2019).

Asongu, S.A. (2015) ‘Financial sector competition and knowledge economy: Evidence from SSA and MENA countries’, Journal of the Knowledge Economy 6(4):717–748. doi: 10.1007/s13132-012-0141-4.

Aterido, R., Beck, T. and Iacovone, L. (2013) ‘Access to finance in Sub-Saharan Africa: Is there a gender gap?’, World Development 47:102–120. Available at: https://doi.org/10.1016/j.worlddev.2013.02.013 (Accessed: 2 April 2019).

Bahta, Y.T., Strydom, D.B. and Donkor, E. (2017) ‘Microcredit and gender empowerment: Policy implications for sustainable agricultural development in Eritrea’, Development in Practice 27(1): 90–102. doi: 10.1080/09614524.2017.1259393.

Baiyegunhi, L.J.S. and Fraser, G.C.G. (2014) ‘Smallholder farmers’ access to credit in the Amathole District Municipality, Eastern Cape Province, South Africa’, Journal of Agriculture and Rural Development in the Tropics and Subtropics 115: 79–89. Available at: https://www.jarts.info/index.php/jarts/article/view/2014121946870 (Accessed: 2 April 2019).

Baker, M.J., Powell, D. and Smith, T.A. (2016) ‘GENQREG: Stata Module To Perform Generalized Quantile Regression’. Available at: https://econpapers.repec.org/software/bocbocode/S458158.htm (Accessed: 2 April 2019).

Banerjee, A.V. and Duflo, E. (2014) ‘Do firms want to borrow more? Testing credit constraints using a directed lending program’, Review of Economic Studies 81(2): 572–607. Available at: https://doi.org/10.1093/restud/rdt046 (Accessed: 2 April 2019).

Banerjee, A., Karlan, D. and Zinman, J. (2015) ‘Six Randomized Evaluations of Microcredit: Introduction and Further Steps’, American Economic Journal: Applied Economics 7: 1–21.

Bangoura, L. et al. (2016) ‘Impact of Microfinance on poverty and inequality: A heterogeneous panel causality analysis’, Revue d’economie Politique 126: 789–818. Available at: https://www.cairn.info/revue-d-economie-politique-2016-5-page-789.htm (Accessed: 2 April 2019).

Belwal, R., Tamiru, M. and Singh, G. (2012) ‘Microfinance and sustained economic improvement: Women small-scale entrepreneurs in Ethiopia’, Journal of International Development 24: S84–S99. doi: 10.1002/jid.1782.

Bussey, T.R., Elu, J.U. and Price, G.N. (2014) ‘Do inequality-based entry barriers deter the formation of female-owned firms in Nigeria?’ In Private Sector Development in West Africa, (Ed. Diery Seck), pp. 129–138, Springer International Publishing, Cham CH.

Corsi, M. and De Angelis, M. (2017) ‘Gender discrimination in microfinance? Some evidence from Uganda’, The Journal of Development Studies 53(5): 723–740. doi: 10.1080/00220388.2016.1205733.

Cunguara, B. (2012) ‘An exposition of development failures in Mozambique’, Review of African Political Economy 39(131): 161–170. doi: 10.1080/03056244.2012.657881.

Cunguara, B. and Hanlon, J. (2012) ‘Whose wealth is it anyway? Mozambique’s outstanding economic growth with worsening rural poverty’, Development and Change 43(3): 623–647. doi: 10.1111/j.1467-7660.2012.01779.x.

Ding, Z. and Abdulai A. (2018). ‘Smallholder Preferences and willingness-to-pay measures for microcredit: Evidence from Sichuan Province in China’, China Agricultural Economic Review 10(3): 462–481.

Duflo, E. (2012) ‘Women empowerment and economic development’, Journal of Economic Literature 50(4): 1051–1079. doi: 10.1257/jel.50.4.1051.

Fernández, R. (2014) ‘Women’s rights and development’, Journal of Economic Growth 19(1): 37–80. doi: 10.1007/s10887-013-9097-x.

Fofana, N.B. et al. (2015) ‘How microfinance empowers women in Côte d’Ivoire’, Review of Economics of the Household 13(4): 1023–1041. doi: 10.1007/s11150-015-9280-2.

Frölich, M. and Melly, B. (2010) ‘Estimation of quantile treatment effects with Stata’, Stata Journal 10: 423–457. Available at: https://doi.org/10.1177/1536867X1001000309 (Accessed: 2 April 2019).

Giesbert, L. and Schindler, K. (2012) ‘Assets, shocks, and poverty traps in rural Mozambique’, World Develpment 40: 1594–1609. Available at: https://doi.org/10.1016/j.worlddev.2012.04.002 (Accessed: 2 April 2019).

Gorodnichenko, Y. and Schnitzer, M. (2013) ‘Financial constraints and innovation: Why poor countries don’t catch up’, Journal of the European Economic Association 11(5): 1115–1152. Available at: https://doi.org/10.1111/jeea.12033 (Accessed: 2 April 2019).

Hansen, H. and Rand, J. (2014) ‘Estimates of gender differences in firm’s access to credit in Sub-Saharan Africa’, Economics Letters 123: 374–377. Available at: https://doi.org/10.1016/j.econlet.2014.04.001 (Accessed: 2 April 2019).

Hermes, N. (2014) ‘Does microfinance affect income inequality?’, Applied Economics 46(9): 1021–1034. doi: 10.1080/00036846.2013.864039.

Hingston, C.A. (2016) ‘Towards gender equality in Africa: a review of Aspiration 6 in Agenda 2063’, Journal of African Union Studies 5: 39–49. Available at: https://hdl.handle.net/10520/EJC197892 (Accessed: 2 April 2019).

Human Development Report 2016: Human Development For Everyone. United Nations Development Programme, New York, NY.

Jahan, S. (2017) ‘Human Development Report 2016-Human Development for Everyone’. Available at: http://hdr.undp.org/sites/default/files/2016_human_development_report.pdf (Accessed: 2 April 2019).

Kabeer, N. (2005) ‘Gender equality and women’s empowerment: A critical analysis of the third millennium development goal 1’, Gender & Development 13(1):13–24. doi: 10.1080/13552070512331332273.

Karlan, D. and Zinman, J. (2011) ‘Microcredit in theory and practice: Using randomized credit scoring for impact evaluation’, Science 332: 1278–1284. doi: 10.1126/science.1200138.

Khandker, S.R. (2005) ‘Microfinance and poverty: Evidence using panel data from Bangladesh’, World Bank Economic Review 19: 263–286. Available at: https://doi.org/10.1093/wber/lhi008 (Accessed: 2 April 2019).

Koenker, R. and Basset, G. (1978) ‘Regression quantiles’, Econometrica 46: 33–50. doi: 10.2307/1913643.

Koloma, Y. and Alia, H. (2014) ‘Gendered impact of microcredit in Mali: An evaluation by propensity score matching’, Strategic Change 23(7–8): 517–530. doi: 10.1002/jsc.1993.

Kusi, A., Opata, C.N. and Narh, T.W.J., (2015). ‘Exploring the factors that hinder the growth and survival of small businesses in Ghana (a case study of small businesses within Kumasi metropolitan area)’, American Journal of Industrial and Business Management 5(11): 705–723.

Mitra, A., Bang, J.T. and Biswas, A. (2015) ‘Gender equality and economic growth: Is it equality of opportunity or equality of outcomes?’, Feminist Economics 21(1): 110–135. doi: 10.1080/13545701.2014.930163.

Mosley, P. and Rock, J. (2004) ‘Microfinance, labour markets and poverty in Africa: A study of six institutions’, Journal of International Development 16(3): 467–500. doi: 10.1002/jid.1090.

Nanziri, E.L. (2016) ‘Financial inclusion and welfare in South Africa: Is there a gender gap?’ Journal of African Development 18: 109–134.

Nega, B. and Schneider, G. (2014) ‘Social entrepreneurship, microfinance, and economic development in Africa’, Journal of Economic Issues 48(2): 367–376. doi: 10.2753/JEI0021-3624480210.

Nwosu, E.O. and Orji, A. (2017) ‘Addressing poverty and gender inequality through access to formal credit and enhanced enterprise performance in Nigeria: An empirical investigation’, African Development Review 29(S1): 56–72. doi: 10.1111/1467-8268.12233.

Orji, M.G. (2017) ‘The role of bank of agriculture in financing small scale agricultural enterprises in Nigeria’, Pakistan Research Journal of Management 1: 1–10. Available at: https://www.academia.edu/33068870/The_Role_of_Bank_of_Agriculture_in_Financing_Small_scale_Agricultural_Enterprises_in_Nigeria (Accessed: 2 April 2019).

Powell, D. (2010) ‘Unconditional quantile treatment effects in the presence of covariates’, RAND Labor and Population Working Paper. Available at: https://www.rand.org/content/dam/rand/pubs/working_papers/2010/RAND_WR816.pdf (Accessed: 2 April 2019).

Powell, D. (2016) ‘Quantile treatment effects in the presence of covariates’. RAND Working Paper, Santa Monica, CA.

Powell, D. (2017) ‘Quantile treatment effects in the presence of covariates’, RAND Labor and Population Working. Available at: https://works.bepress.com/david_powell/4/download/ (Accessed: 2 April 2019).

Rees, R. and Riezman, R. (2012) ‘Globalization, gender and growth’, Review of Income and Wealth 58(1): 107–117. doi: 10.1111/j.1475-4991.2011.00483.x.

Sagamba, M. Shchetinin, O. and Yusupov, N. (2013) ‘Do microloan officers want to lend to the less advantaged? Evidence from a choice experiment’, World Development 42: 182–198.

Sarwosri, A.W., Römer, U. and Musshoff, O. (2016) ‘Are African female farmers disadvantaged on the microfinance lending market?’, Agricultural Finance Review 76(4): 477–493. doi: 10.1108/AFR-02-2016-0012.

Schindler, K. (2010). ‘Credit for what? Informal credit as a coping strategy of market women in Northern Ghana’, Journal of Development Studies 46(2): 234–253.

Schreiner, M. (2001) ‘Informal finance and the design of microfinance’, Development in Practice 11: 637–640.

Sebatta, C., Wamulume, M. and Mwansakilwa, C. (2014) ‘Determinants of smallholder farmers’ access to agricultural finance in Zambia’, Journal of Agricultural Science 6: 63–73. Available at: http://dx.doi.org/10.5539/jas.v6n11p63 (Accessed: 2 April 2019).

Seguino, S. and Were, M. (2014) ‘Gender, development and economic growth in Sub-Saharan Africa’, Journal of African Economies 23: i18–i61. Available at: https://doi.org/10.1093/jae/ejt024 (Accessed: 2 April 2019).

Shamshad, A. (2015) ‘Working condition of houseless population in Kanpur City’, Indian Journal of Regional Science 47: 1–16. Available at: https://www.researchgate.net/profile/Shamshad2/publication/306032014_Working_Condition_of_Houseless_Population_in_Kanpur_City/links/57ab5d0f08ae42ba52aed925/Working-Condition-of-Houseless-Population-in-Kanpur-City.pdf (Accessed: 2 April 2019).

Seibel, H.D. (2014) ‘The continued relevance of informal finance in development’. World Politics, July 1, www.world.politicsreview.com/articles/13891.

Steel, W.F. et al. (1997) ‘Informal financial markets under liberalization in four African countries’, World Develpment 25: 817–830. Available at: https://doi.org/10.1016/S0305-750X(96)00133-7 (Accessed: 2 April 2019).

The Global Findex Database 2017: Measuring Financial Inclusion and the Fintech Revolution. 2018. International Bank For Reconstruction and Development/World Bank, Washington, DC.

Agbodji, A.E., Batana, Y.M. and Ouedraogo, D. (2015) ‘Gender inequality in multidimensional welfare deprivation in West Africa’, International Journal of Social Economics 42(11): 980–1004. doi: 10.1108/IJSE-11-2013-0270.

Agier, I. and Szafarz, A. (2013) ‘Microfinance and gender: Is there a glass ceiling on loan size?’, World Development 42:165–181. doi: 10.1016/j.worlddev.2012.06.016

Akudugu, M.A. (2016) ‘Agricultural productivity, credit and farm size nexus in Africa: A case study of Ghana’, Agricultural Finance Review 76(2): 288–308. doi: 10.1108/AFR-12-2015-0058.

Alvi, E. and Seife Dendir, S. (2009) ‘Private transfers, informal loans and risk sharing among poor urban households in Ethiopia’, Journal of Development Studies 45(8):1325–1343.

Anderson, J. and Ahmed, W. (2016) ‘Smallholder diaries: Building the Evidence base with farming families in Mozambique, Tanzania, and Pakistan’, Perspectives, 2. Available at: https://www.cgap.org/sites/default/files/researches/documents/CGAP_Persp2_Apr2016-R.pdf (Accessed: 2 April 2019).

Arndt, C., James, R.C. and Simler, K.R. (2006) ‘Has economic growth in Mozambique been pro-poor?’, Journal of African Economies 15: 571–602. Available at: https://doi.org/10.1093/jae/ejk011 or https://academic.oup.com/jae/article-abstract/15/4/571/2357609 (Accessed: 2 April 2019).

Aryeetey, E. (2005) ‘Informal finance for private sector development in Sub-Saharan Africa’, Journal of Microfinance/ESR Review 7: 13–34. Available at: https://scholarsarchive.byu.edu/esr/vol7/iss1/3 (Accessed: 2 April 2019).

Asongu, S.A. (2015) ‘Financial sector competition and knowledge economy: Evidence from SSA and MENA countries’, Journal of the Knowledge Economy 6(4):717–748. doi: 10.1007/s13132-012-0141-4.

Aterido, R., Beck, T. and Iacovone, L. (2013) ‘Access to finance in Sub-Saharan Africa: Is there a gender gap?’, World Development 47:102–120. Available at: https://doi.org/10.1016/j.worlddev.2013.02.013 (Accessed: 2 April 2019).

Bahta, Y.T., Strydom, D.B. and Donkor, E. (2017) ‘Microcredit and gender empowerment: Policy implications for sustainable agricultural development in Eritrea’, Development in Practice 27(1): 90–102. doi: 10.1080/09614524.2017.1259393.

Baiyegunhi, L.J.S. and Fraser, G.C.G. (2014) ‘Smallholder farmers’ access to credit in the Amathole District Municipality, Eastern Cape Province, South Africa’, Journal of Agriculture and Rural Development in the Tropics and Subtropics 115: 79–89. Available at: https://www.jarts.info/index.php/jarts/article/view/2014121946870 (Accessed: 2 April 2019).

Baker, M.J., Powell, D. and Smith, T.A. (2016) ‘GENQREG: Stata Module To Perform Generalized Quantile Regression’. Available at: https://econpapers.repec.org/software/bocbocode/S458158.htm (Accessed: 2 April 2019).

Banerjee, A.V. and Duflo, E. (2014) ‘Do firms want to borrow more? Testing credit constraints using a directed lending program’, Review of Economic Studies 81(2): 572–607. Available at: https://doi.org/10.1093/restud/rdt046 (Accessed: 2 April 2019).

Banerjee, A., Karlan, D. and Zinman, J. (2015) ‘Six Randomized Evaluations of Microcredit: Introduction and Further Steps’, American Economic Journal: Applied Economics 7: 1–21.

Bangoura, L. et al. (2016) ‘Impact of Microfinance on poverty and inequality: A heterogeneous panel causality analysis’, Revue d’economie Politique 126: 789–818. Available at: https://www.cairn.info/revue-d-economie-politique-2016-5-page-789.htm (Accessed: 2 April 2019).

Belwal, R., Tamiru, M. and Singh, G. (2012) ‘Microfinance and sustained economic improvement: Women small-scale entrepreneurs in Ethiopia’, Journal of International Development 24: S84–S99. doi: 10.1002/jid.1782.

Bussey, T.R., Elu, J.U. and Price, G.N. (2014) ‘Do inequality-based entry barriers deter the formation of female-owned firms in Nigeria?’ In Private Sector Development in West Africa, (Ed. Diery Seck), pp. 129–138, Springer International Publishing, Cham CH.

Corsi, M. and De Angelis, M. (2017) ‘Gender discrimination in microfinance? Some evidence from Uganda’, The Journal of Development Studies 53(5): 723–740. doi: 10.1080/00220388.2016.1205733.

Cunguara, B. (2012) ‘An exposition of development failures in Mozambique’, Review of African Political Economy 39(131): 161–170. doi: 10.1080/03056244.2012.657881.

Cunguara, B. and Hanlon, J. (2012) ‘Whose wealth is it anyway? Mozambique’s outstanding economic growth with worsening rural poverty’, Development and Change 43(3): 623–647. doi: 10.1111/j.1467-7660.2012.01779.x.

Ding, Z. and Abdulai A. (2018). ‘Smallholder Preferences and willingness-to-pay measures for microcredit: Evidence from Sichuan Province in China’, China Agricultural Economic Review 10(3): 462–481.

Duflo, E. (2012) ‘Women empowerment and economic development’, Journal of Economic Literature 50(4): 1051–1079. doi: 10.1257/jel.50.4.1051.

Fernández, R. (2014) ‘Women’s rights and development’, Journal of Economic Growth 19(1): 37–80. doi: 10.1007/s10887-013-9097-x.

Fofana, N.B. et al. (2015) ‘How microfinance empowers women in Côte d’Ivoire’, Review of Economics of the Household 13(4): 1023–1041. doi: 10.1007/s11150-015-9280-2.

Frölich, M. and Melly, B. (2010) ‘Estimation of quantile treatment effects with Stata’, Stata Journal 10: 423–457. Available at: https://doi.org/10.1177/1536867X1001000309 (Accessed: 2 April 2019).

Giesbert, L. and Schindler, K. (2012) ‘Assets, shocks, and poverty traps in rural Mozambique’, World Develpment 40: 1594–1609. Available at: https://doi.org/10.1016/j.worlddev.2012.04.002 (Accessed: 2 April 2019).

Gorodnichenko, Y. and Schnitzer, M. (2013) ‘Financial constraints and innovation: Why poor countries don’t catch up’, Journal of the European Economic Association 11(5): 1115–1152. Available at: https://doi.org/10.1111/jeea.12033 (Accessed: 2 April 2019).

Hansen, H. and Rand, J. (2014) ‘Estimates of gender differences in firm’s access to credit in Sub-Saharan Africa’, Economics Letters 123: 374–377. Available at: https://doi.org/10.1016/j.econlet.2014.04.001 (Accessed: 2 April 2019).

Hermes, N. (2014) ‘Does microfinance affect income inequality?’, Applied Economics 46(9): 1021–1034. doi: 10.1080/00036846.2013.864039.

Hingston, C.A. (2016) ‘Towards gender equality in Africa: a review of Aspiration 6 in Agenda 2063’, Journal of African Union Studies 5: 39–49. Available at: https://hdl.handle.net/10520/EJC197892 (Accessed: 2 April 2019).

Human Development Report 2016: Human Development For Everyone. United Nations Development Programme, New York, NY.

Jahan, S. (2017) ‘Human Development Report 2016-Human Development for Everyone’. Available at: http://hdr.undp.org/sites/default/files/2016_human_development_report.pdf (Accessed: 2 April 2019).

Kabeer, N. (2005) ‘Gender equality and women’s empowerment: A critical analysis of the third millennium development goal 1’, Gender & Development 13(1):13–24. doi: 10.1080/13552070512331332273.

Karlan, D. and Zinman, J. (2011) ‘Microcredit in theory and practice: Using randomized credit scoring for impact evaluation’, Science 332: 1278–1284. doi: 10.1126/science.1200138.

Khandker, S.R. (2005) ‘Microfinance and poverty: Evidence using panel data from Bangladesh’, World Bank Economic Review 19: 263–286. Available at: https://doi.org/10.1093/wber/lhi008 (Accessed: 2 April 2019).

Koenker, R. and Basset, G. (1978) ‘Regression quantiles’, Econometrica 46: 33–50. doi: 10.2307/1913643.

Koloma, Y. and Alia, H. (2014) ‘Gendered impact of microcredit in Mali: An evaluation by propensity score matching’, Strategic Change 23(7–8): 517–530. doi: 10.1002/jsc.1993.

Kusi, A., Opata, C.N. and Narh, T.W.J., (2015). ‘Exploring the factors that hinder the growth and survival of small businesses in Ghana (a case study of small businesses within Kumasi metropolitan area)’, American Journal of Industrial and Business Management 5(11): 705–723.

Mitra, A., Bang, J.T. and Biswas, A. (2015) ‘Gender equality and economic growth: Is it equality of opportunity or equality of outcomes?’, Feminist Economics 21(1): 110–135. doi: 10.1080/13545701.2014.930163.

Mosley, P. and Rock, J. (2004) ‘Microfinance, labour markets and poverty in Africa: A study of six institutions’, Journal of International Development 16(3): 467–500. doi: 10.1002/jid.1090.

Nanziri, E.L. (2016) ‘Financial inclusion and welfare in South Africa: Is there a gender gap?’ Journal of African Development 18: 109–134.

Nega, B. and Schneider, G. (2014) ‘Social entrepreneurship, microfinance, and economic development in Africa’, Journal of Economic Issues 48(2): 367–376. doi: 10.2753/JEI0021-3624480210.

Nwosu, E.O. and Orji, A. (2017) ‘Addressing poverty and gender inequality through access to formal credit and enhanced enterprise performance in Nigeria: An empirical investigation’, African Development Review 29(S1): 56–72. doi: 10.1111/1467-8268.12233.

Orji, M.G. (2017) ‘The role of bank of agriculture in financing small scale agricultural enterprises in Nigeria’, Pakistan Research Journal of Management 1: 1–10. Available at: https://www.academia.edu/33068870/The_Role_of_Bank_of_Agriculture_in_Financing_Small_scale_Agricultural_Enterprises_in_Nigeria (Accessed: 2 April 2019).

Powell, D. (2010) ‘Unconditional quantile treatment effects in the presence of covariates’, RAND Labor and Population Working Paper. Available at: https://www.rand.org/content/dam/rand/pubs/working_papers/2010/RAND_WR816.pdf (Accessed: 2 April 2019).

Powell, D. (2016) ‘Quantile treatment effects in the presence of covariates’. RAND Working Paper, Santa Monica, CA.

Powell, D. (2017) ‘Quantile treatment effects in the presence of covariates’, RAND Labor and Population Working. Available at: https://works.bepress.com/david_powell/4/download/ (Accessed: 2 April 2019).

Rees, R. and Riezman, R. (2012) ‘Globalization, gender and growth’, Review of Income and Wealth 58(1): 107–117. doi: 10.1111/j.1475-4991.2011.00483.x.

Sagamba, M. Shchetinin, O. and Yusupov, N. (2013) ‘Do microloan officers want to lend to the less advantaged? Evidence from a choice experiment’, World Development 42: 182–198.

Sarwosri, A.W., Römer, U. and Musshoff, O. (2016) ‘Are African female farmers disadvantaged on the microfinance lending market?’, Agricultural Finance Review 76(4): 477–493. doi: 10.1108/AFR-02-2016-0012.

Schindler, K. (2010). ‘Credit for what? Informal credit as a coping strategy of market women in Northern Ghana’, Journal of Development Studies 46(2): 234–253.

Schreiner, M. (2001) ‘Informal finance and the design of microfinance’, Development in Practice 11: 637–640.

Sebatta, C., Wamulume, M. and Mwansakilwa, C. (2014) ‘Determinants of smallholder farmers’ access to agricultural finance in Zambia’, Journal of Agricultural Science 6: 63–73. Available at: http://dx.doi.org/10.5539/jas.v6n11p63 (Accessed: 2 April 2019).

Seguino, S. and Were, M. (2014) ‘Gender, development and economic growth in Sub-Saharan Africa’, Journal of African Economies 23: i18–i61. Available at: https://doi.org/10.1093/jae/ejt024 (Accessed: 2 April 2019).

Shamshad, A. (2015) ‘Working condition of houseless population in Kanpur City’, Indian Journal of Regional Science 47: 1–16. Available at: https://www.researchgate.net/profile/Shamshad2/publication/306032014_Working_Condition_of_Houseless_Population_in_Kanpur_City/links/57ab5d0f08ae42ba52aed925/Working-Condition-of-Houseless-Population-in-Kanpur-City.pdf (Accessed: 2 April 2019).

Seibel, H.D. (2014) ‘The continued relevance of informal finance in development’. World Politics, July 1, www.world.politicsreview.com/articles/13891.

Steel, W.F. et al. (1997) ‘Informal financial markets under liberalization in four African countries’, World Develpment 25: 817–830. Available at: https://doi.org/10.1016/S0305-750X(96)00133-7 (Accessed: 2 April 2019).

The Global Findex Database 2017: Measuring Financial Inclusion and the Fintech Revolution. 2018. International Bank For Reconstruction and Development/World Bank, Washington, DC.

Agbodji, A.E., Batana, Y.M. and Ouedraogo, D. (2015) ‘Gender inequality in multidimensional welfare deprivation in West Africa’, International Journal of Social Economics 42(11): 980–1004. doi: 10.1108/IJSE-11-2013-0270.

Agier, I. and Szafarz, A. (2013) ‘Microfinance and gender: Is there a glass ceiling on loan size?’, World Development 42:165–181. doi: 10.1016/j.worlddev.2012.06.016

Akudugu, M.A. (2016) ‘Agricultural productivity, credit and farm size nexus in Africa: A case study of Ghana’, Agricultural Finance Review 76(2): 288–308. doi: 10.1108/AFR-12-2015-0058.

Alvi, E. and Seife Dendir, S. (2009) ‘Private transfers, informal loans and risk sharing among poor urban households in Ethiopia’, Journal of Development Studies 45(8):1325–1343.

Anderson, J. and Ahmed, W. (2016) ‘Smallholder diaries: Building the Evidence base with farming families in Mozambique, Tanzania, and Pakistan’, Perspectives, 2. Available at: https://www.cgap.org/sites/default/files/researches/documents/CGAP_Persp2_Apr2016-R.pdf (Accessed: 2 April 2019).

Arndt, C., James, R.C. and Simler, K.R. (2006) ‘Has economic growth in Mozambique been pro-poor?’, Journal of African Economies 15: 571–602. Available at: https://doi.org/10.1093/jae/ejk011 or https://academic.oup.com/jae/article-abstract/15/4/571/2357609 (Accessed: 2 April 2019).

Aryeetey, E. (2005) ‘Informal finance for private sector development in Sub-Saharan Africa’, Journal of Microfinance/ESR Review 7: 13–34. Available at: https://scholarsarchive.byu.edu/esr/vol7/iss1/3 (Accessed: 2 April 2019).

Asongu, S.A. (2015) ‘Financial sector competition and knowledge economy: Evidence from SSA and MENA countries’, Journal of the Knowledge Economy 6(4):717–748. doi: 10.1007/s13132-012-0141-4.

Aterido, R., Beck, T. and Iacovone, L. (2013) ‘Access to finance in Sub-Saharan Africa: Is there a gender gap?’, World Development 47:102–120. Available at: https://doi.org/10.1016/j.worlddev.2013.02.013 (Accessed: 2 April 2019).

Bahta, Y.T., Strydom, D.B. and Donkor, E. (2017) ‘Microcredit and gender empowerment: Policy implications for sustainable agricultural development in Eritrea’, Development in Practice 27(1): 90–102. doi: 10.1080/09614524.2017.1259393.

Baiyegunhi, L.J.S. and Fraser, G.C.G. (2014) ‘Smallholder farmers’ access to credit in the Amathole District Municipality, Eastern Cape Province, South Africa’, Journal of Agriculture and Rural Development in the Tropics and Subtropics 115: 79–89. Available at: https://www.jarts.info/index.php/jarts/article/view/2014121946870 (Accessed: 2 April 2019).

Baker, M.J., Powell, D. and Smith, T.A. (2016) ‘GENQREG: Stata Module To Perform Generalized Quantile Regression’. Available at: https://econpapers.repec.org/software/bocbocode/S458158.htm (Accessed: 2 April 2019).

Banerjee, A.V. and Duflo, E. (2014) ‘Do firms want to borrow more? Testing credit constraints using a directed lending program’, Review of Economic Studies 81(2): 572–607. Available at: https://doi.org/10.1093/restud/rdt046 (Accessed: 2 April 2019).

Banerjee, A., Karlan, D. and Zinman, J. (2015) ‘Six Randomized Evaluations of Microcredit: Introduction and Further Steps’, American Economic Journal: Applied Economics 7: 1–21.

Bangoura, L. et al. (2016) ‘Impact of Microfinance on poverty and inequality: A heterogeneous panel causality analysis’, Revue d’economie Politique 126: 789–818. Available at: https://www.cairn.info/revue-d-economie-politique-2016-5-page-789.htm (Accessed: 2 April 2019).

Belwal, R., Tamiru, M. and Singh, G. (2012) ‘Microfinance and sustained economic improvement: Women small-scale entrepreneurs in Ethiopia’, Journal of International Development 24: S84–S99. doi: 10.1002/jid.1782.

Bussey, T.R., Elu, J.U. and Price, G.N. (2014) ‘Do inequality-based entry barriers deter the formation of female-owned firms in Nigeria?’ In Private Sector Development in West Africa, (Ed. Diery Seck), pp. 129–138, Springer International Publishing, Cham CH.

Corsi, M. and De Angelis, M. (2017) ‘Gender discrimination in microfinance? Some evidence from Uganda’, The Journal of Development Studies 53(5): 723–740. doi: 10.1080/00220388.2016.1205733.

Cunguara, B. (2012) ‘An exposition of development failures in Mozambique’, Review of African Political Economy 39(131): 161–170. doi: 10.1080/03056244.2012.657881.

Cunguara, B. and Hanlon, J. (2012) ‘Whose wealth is it anyway? Mozambique’s outstanding economic growth with worsening rural poverty’, Development and Change 43(3): 623–647. doi: 10.1111/j.1467-7660.2012.01779.x.

Ding, Z. and Abdulai A. (2018). ‘Smallholder Preferences and willingness-to-pay measures for microcredit: Evidence from Sichuan Province in China’, China Agricultural Economic Review 10(3): 462–481.

Duflo, E. (2012) ‘Women empowerment and economic development’, Journal of Economic Literature 50(4): 1051–1079. doi: 10.1257/jel.50.4.1051.

Fernández, R. (2014) ‘Women’s rights and development’, Journal of Economic Growth 19(1): 37–80. doi: 10.1007/s10887-013-9097-x.

Fofana, N.B. et al. (2015) ‘How microfinance empowers women in Côte d’Ivoire’, Review of Economics of the Household 13(4): 1023–1041. doi: 10.1007/s11150-015-9280-2.

Frölich, M. and Melly, B. (2010) ‘Estimation of quantile treatment effects with Stata’, Stata Journal 10: 423–457. Available at: https://doi.org/10.1177/1536867X1001000309 (Accessed: 2 April 2019).

Giesbert, L. and Schindler, K. (2012) ‘Assets, shocks, and poverty traps in rural Mozambique’, World Develpment 40: 1594–1609. Available at: https://doi.org/10.1016/j.worlddev.2012.04.002 (Accessed: 2 April 2019).

Gorodnichenko, Y. and Schnitzer, M. (2013) ‘Financial constraints and innovation: Why poor countries don’t catch up’, Journal of the European Economic Association 11(5): 1115–1152. Available at: https://doi.org/10.1111/jeea.12033 (Accessed: 2 April 2019).

Hansen, H. and Rand, J. (2014) ‘Estimates of gender differences in firm’s access to credit in Sub-Saharan Africa’, Economics Letters 123: 374–377. Available at: https://doi.org/10.1016/j.econlet.2014.04.001 (Accessed: 2 April 2019).

Hermes, N. (2014) ‘Does microfinance affect income inequality?’, Applied Economics 46(9): 1021–1034. doi: 10.1080/00036846.2013.864039.

Hingston, C.A. (2016) ‘Towards gender equality in Africa: a review of Aspiration 6 in Agenda 2063’, Journal of African Union Studies 5: 39–49. Available at: https://hdl.handle.net/10520/EJC197892 (Accessed: 2 April 2019).

Human Development Report 2016: Human Development For Everyone. United Nations Development Programme, New York, NY.

Jahan, S. (2017) ‘Human Development Report 2016-Human Development for Everyone’. Available at: http://hdr.undp.org/sites/default/files/2016_human_development_report.pdf (Accessed: 2 April 2019).

Kabeer, N. (2005) ‘Gender equality and women’s empowerment: A critical analysis of the third millennium development goal 1’, Gender & Development 13(1):13–24. doi: 10.1080/13552070512331332273.

Karlan, D. and Zinman, J. (2011) ‘Microcredit in theory and practice: Using randomized credit scoring for impact evaluation’, Science 332: 1278–1284. doi: 10.1126/science.1200138.

Khandker, S.R. (2005) ‘Microfinance and poverty: Evidence using panel data from Bangladesh’, World Bank Economic Review 19: 263–286. Available at: https://doi.org/10.1093/wber/lhi008 (Accessed: 2 April 2019).

Koenker, R. and Basset, G. (1978) ‘Regression quantiles’, Econometrica 46: 33–50. doi: 10.2307/1913643.

Koloma, Y. and Alia, H. (2014) ‘Gendered impact of microcredit in Mali: An evaluation by propensity score matching’, Strategic Change 23(7–8): 517–530. doi: 10.1002/jsc.1993.

Kusi, A., Opata, C.N. and Narh, T.W.J., (2015). ‘Exploring the factors that hinder the growth and survival of small businesses in Ghana (a case study of small businesses within Kumasi metropolitan area)’, American Journal of Industrial and Business Management 5(11): 705–723.

Mitra, A., Bang, J.T. and Biswas, A. (2015) ‘Gender equality and economic growth: Is it equality of opportunity or equality of outcomes?’, Feminist Economics 21(1): 110–135. doi: 10.1080/13545701.2014.930163.

Mosley, P. and Rock, J. (2004) ‘Microfinance, labour markets and poverty in Africa: A study of six institutions’, Journal of International Development 16(3): 467–500. doi: 10.1002/jid.1090.

Nanziri, E.L. (2016) ‘Financial inclusion and welfare in South Africa: Is there a gender gap?’ Journal of African Development 18: 109–134.

Nega, B. and Schneider, G. (2014) ‘Social entrepreneurship, microfinance, and economic development in Africa’, Journal of Economic Issues 48(2): 367–376. doi: 10.2753/JEI0021-3624480210.

Nwosu, E.O. and Orji, A. (2017) ‘Addressing poverty and gender inequality through access to formal credit and enhanced enterprise performance in Nigeria: An empirical investigation’, African Development Review 29(S1): 56–72. doi: 10.1111/1467-8268.12233.

Orji, M.G. (2017) ‘The role of bank of agriculture in financing small scale agricultural enterprises in Nigeria’, Pakistan Research Journal of Management 1: 1–10. Available at: https://www.academia.edu/33068870/The_Role_of_Bank_of_Agriculture_in_Financing_Small_scale_Agricultural_Enterprises_in_Nigeria (Accessed: 2 April 2019).

Powell, D. (2010) ‘Unconditional quantile treatment effects in the presence of covariates’, RAND Labor and Population Working Paper. Available at: https://www.rand.org/content/dam/rand/pubs/working_papers/2010/RAND_WR816.pdf (Accessed: 2 April 2019).

Powell, D. (2016) ‘Quantile treatment effects in the presence of covariates’. RAND Working Paper, Santa Monica, CA.

Powell, D. (2017) ‘Quantile treatment effects in the presence of covariates’, RAND Labor and Population Working. Available at: https://works.bepress.com/david_powell/4/download/ (Accessed: 2 April 2019).

Rees, R. and Riezman, R. (2012) ‘Globalization, gender and growth’, Review of Income and Wealth 58(1): 107–117. doi: 10.1111/j.1475-4991.2011.00483.x.

Sagamba, M. Shchetinin, O. and Yusupov, N. (2013) ‘Do microloan officers want to lend to the less advantaged? Evidence from a choice experiment’, World Development 42: 182–198.

Sarwosri, A.W., Römer, U. and Musshoff, O. (2016) ‘Are African female farmers disadvantaged on the microfinance lending market?’, Agricultural Finance Review 76(4): 477–493. doi: 10.1108/AFR-02-2016-0012.

Schindler, K. (2010). ‘Credit for what? Informal credit as a coping strategy of market women in Northern Ghana’, Journal of Development Studies 46(2): 234–253.

Schreiner, M. (2001) ‘Informal finance and the design of microfinance’, Development in Practice 11: 637–640.

Sebatta, C., Wamulume, M. and Mwansakilwa, C. (2014) ‘Determinants of smallholder farmers’ access to agricultural finance in Zambia’, Journal of Agricultural Science 6: 63–73. Available at: http://dx.doi.org/10.5539/jas.v6n11p63 (Accessed: 2 April 2019).

Seguino, S. and Were, M. (2014) ‘Gender, development and economic growth in Sub-Saharan Africa’, Journal of African Economies 23: i18–i61. Available at: https://doi.org/10.1093/jae/ejt024 (Accessed: 2 April 2019).

Shamshad, A. (2015) ‘Working condition of houseless population in Kanpur City’, Indian Journal of Regional Science 47: 1–16. Available at: https://www.researchgate.net/profile/Shamshad2/publication/306032014_Working_Condition_of_Houseless_Population_in_Kanpur_City/links/57ab5d0f08ae42ba52aed925/Working-Condition-of-Houseless-Population-in-Kanpur-City.pdf (Accessed: 2 April 2019).

Seibel, H.D. (2014) ‘The continued relevance of informal finance in development’. World Politics, July 1, www.world.politicsreview.com/articles/13891.

Steel, W.F. et al. (1997) ‘Informal financial markets under liberalization in four African countries’, World Develpment 25: 817–830. Available at: https://doi.org/10.1016/S0305-750X(96)00133-7 (Accessed: 2 April 2019).

The Global Findex Database 2017: Measuring Financial Inclusion and the Fintech Revolution. 2018. International Bank For Reconstruction and Development/World Bank, Washington, DC.