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Repayment Flexibility Can Reduce Financial Stress: A Randomized Control Trial with Microfinance Clients in India

Overview of attention for article published in PLOS ONE, September 2012
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About this Attention Score

  • In the top 25% of all research outputs scored by Altmetric
  • High Attention Score compared to outputs of the same age (80th percentile)
  • Good Attention Score compared to outputs of the same age and source (77th percentile)

Mentioned by

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9 X users

Citations

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45 Dimensions

Readers on

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141 Mendeley
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Title
Repayment Flexibility Can Reduce Financial Stress: A Randomized Control Trial with Microfinance Clients in India
Published in
PLOS ONE, September 2012
DOI 10.1371/journal.pone.0045679
Pubmed ID
Authors

Erica Field, Rohini Pande, John Papp, Y. Jeanette Park

Abstract

Financial stress is widely believed to cause health problems. However, policies seeking to relieve financial stress by limiting debt levels of poor households may directly worsen their economic well-being. We evaluate an alternative policy - increasing the repayment flexibility of debt contracts. A field experiment randomly assigned microfinance clients to a monthly or a traditional weekly installment schedule (N=200). We used cell phones to gather survey data on income, expenditure, and financial stress every 48 hours over seven weeks. Clients repaying monthly were 51 percent less likely to report feeling "worried, tense, or anxious" about repaying, were 54 percent more likely to report feeling confident about repaying, and reported spending less time thinking about their loan compared to weekly clients. Monthly clients also reported higher business investment and income, suggesting that the flexibility encouraged them to invest their loans more profitably, which ultimately reduced financial stress.

X Demographics

X Demographics

The data shown below were collected from the profiles of 9 X users who shared this research output. Click here to find out more about how the information was compiled.
Mendeley readers

Mendeley readers

The data shown below were compiled from readership statistics for 141 Mendeley readers of this research output. Click here to see the associated Mendeley record.

Geographical breakdown

Country Count As %
United States 2 1%
United Kingdom 1 <1%
Unknown 138 98%

Demographic breakdown

Readers by professional status Count As %
Student > Master 32 23%
Student > Ph. D. Student 23 16%
Researcher 19 13%
Student > Bachelor 13 9%
Student > Doctoral Student 6 4%
Other 26 18%
Unknown 22 16%
Readers by discipline Count As %
Economics, Econometrics and Finance 34 24%
Social Sciences 18 13%
Business, Management and Accounting 17 12%
Medicine and Dentistry 10 7%
Nursing and Health Professions 7 5%
Other 28 20%
Unknown 27 19%
Attention Score in Context

Attention Score in Context

This research output has an Altmetric Attention Score of 7. This is our high-level measure of the quality and quantity of online attention that it has received. This Attention Score, as well as the ranking and number of research outputs shown below, was calculated when the research output was last mentioned on 25 August 2015.
All research outputs
#4,632,138
of 22,679,690 outputs
Outputs from PLOS ONE
#63,105
of 193,573 outputs
Outputs of similar age
#34,009
of 171,752 outputs
Outputs of similar age from PLOS ONE
#990
of 4,420 outputs
Altmetric has tracked 22,679,690 research outputs across all sources so far. Compared to these this one has done well and is in the 79th percentile: it's in the top 25% of all research outputs ever tracked by Altmetric.
So far Altmetric has tracked 193,573 research outputs from this source. They typically receive a lot more attention than average, with a mean Attention Score of 15.0. This one has gotten more attention than average, scoring higher than 67% of its peers.
Older research outputs will score higher simply because they've had more time to accumulate mentions. To account for age we can compare this Altmetric Attention Score to the 171,752 tracked outputs that were published within six weeks on either side of this one in any source. This one has done well, scoring higher than 80% of its contemporaries.
We're also able to compare this research output to 4,420 others from the same source and published within six weeks on either side of this one. This one has done well, scoring higher than 77% of its contemporaries.