Where is the ‘Plus’ in ‘Credit-Plus’? The Case of Chiapas, Mexico

Olga Biosca Artinano, Pamela Lenton, Paul Mosley

Research output: Contribution to journalArticlepeer-review

15 Citations (Scopus)


It has become common to try and increase the effectiveness of microfinance programmes by adding supplementary services to the financial product. However, the added value accruing from this ‘credit-plus’ approach has been little analysed. We hypothesise that the extent of added value from credit-plus depends on the ability of the credit supplier to cultivate trust, or social capital, amongst clients. Applying difference-in-difference estimation, we exploit a natural experiment of two ‘credit-plus’ programmes in Mexico. The findings suggest that credit-plus is not universally effective, but that it is at its most effective, especially with low-income groups, where ‘bonding’ (within-group) social capital exists.
Original languageEnglish
Pages (from-to)1700-1716
Number of pages17
JournalJournal of Development Studies
Issue number12
Early online date21 Nov 2014
Publication statusPublished - 2014


  • Mexico
  • microfinance
  • credit-plus
  • social capital

ASJC Scopus subject areas

  • Development


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