Evidence from a range of contexts has shown that while microfinance does not have transformative impacts on lifting people out of poverty, it can greatly benefit specific borrowers such as experienced entrepreneurs.

Evidence from China finds that firms underestimate the value of new partnerships and therefore under-search for partners. As a result, referrals to new suppliers and clients can greatly improve firm performance.

Access to finance improved firm performance, product quality and price, but disadvantaged competitor firms

Letting workers provide feedback on their managers leads to significant reductions in worker turnover and increases in team productivity

Subsidy policies combined with financial education can generate learning from experiences and promote long-run insurance take-up

Firms used VAT savings from China’s tax reform to invest in machinery as intended, but the reform reduced firm productivity, exports and employment

Regular meetings between the managers of young firms in Nanchang, China increased revenue and improved a broad range of performance measures