Risk and Return in Village Economies

This paper by Samphantharak and Townsend (2018), published in the American Economic Journal: Microeconomics, provides a theory-based empirical framework for understanding the risk and return on productive capital assets and their allocation across activities in an eco

Journal Article
1 Feb 2018

Economic Development, Flow of Funds and the Equilibrium Interaction of Financial Frictions

In this working paper Moll, Townsend and Zhorin (2016) use a variety of different data sets from Thailand to study not only the extremes of micro and macro variables but also within-country flow of funds and labor migration.

Working Paper
27 Mar 2016

Measuring and Modelling Market Frictions and their Interaction as a Determinant of Aggregate Sector Performance

This project draws on ongoing data collection methods to understand small and medium enterprises (SMEs) in Low-Income Countries (LICs) and their financial activities, in order to create models for policy recommendations designed to address market frictions.

Research Project
30 Jul 2014