Year of Award


Document Type


Degree Type

Master of Arts (MA)

Degree Name


Department or School/College

Department of Economics

Committee Chair

Douglas Dalenberg

Commitee Members

Amanda Dawsey, Keith Bosak


Thailand, fertility, microloans, development


University of Montana

Subject Categories

Econometrics | Growth and Development


This study evaluates the impact of Thailand’s Million Baht Village Fund program on household fertility decisions. Thailand’s fertility rates are alarmingly low and it is imperative to recognize the unintended consequences a microfinance program may have on fertility choices within Thailand. Using panel data from pre- and post-program years, this research identifies the change in number of babies in a household associated with getting a microloan from the Village Fund program. The quasi-experimental nature of the program and an instrumental variable model with fixed effects identifies a negative relationship between the number of babies within families and participation in the microfinance program. Although the impact is statistically significant, the decrease in babies due to participation is not of practical significance.



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