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Papers | CFSP | Consortium on Financial Systems and Poverty
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Papers

We invite you to explore the papers supported directly by CFSP as well as key papers in the field of financial systems and poverty that were written by Consortium researchers.

A Structural Evaluation of a Large-Scale Quasi-Experimental Microfinance Initiative
Joseph Kaboski, Robert M. Townsend

Winner, 2012 Frisch Medal in Econometrics. This paper uses a structural model to understand, predict, and evaluate the impact of...

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Recent Papers

Finance and Development: A Tale of Two Sectors
Francisco J. Buera, Joseph Kaboski, Yongseok Shin
American Economic Review | 101 | 5 | 1964-2002 | 2011

Income differences across countries primarily reflect differences in total factor productivity...

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Wealth Accumulation and Factors Accounting for Success
Anan Pawasutipaisit, Robert M. Townsend
Journal of Econometrics | 161 | 1 | 56-81 | 2011

We use detailed income, balance sheet, and cash flow statements constructed for households in...

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The Rich Complexity of Village Life
Douglas Clement
The Region | June 2011 | 2011

A Thai village study finds wide variation in risk attitudes, suggesting that policy to smooth...

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The Geographic Concentration of Enterprise in Developing Countries
Robert M. Townsend, John Felkner
Quarterly Journal of Economics | 126 | 4 | 2005-2061 | 2011

A nation's economic geography can have an enormous impact on its development. In Thailand...

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Information-Constrained Optima with Retrading: An Externality and Its Market-Based Solution
Robert M. Townsend, Weerachart T. Kilenthong
Journal of Ecnomic Theory | 146 | 3 | 1042-1077 | 2011

This paper studies the efficiency of competitive equilibria in environments with a moral...

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Balance Sheet Economics of the Subprime Mortgage Crisis
Masako Tsujimura, Kazusuke Tsujimura
Economic Systems Research | 23 | 1 | 1-25 | 2011

This paper is an attempt to describe the US subprime mortgage crisis in the framework of...

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Deregulation, Liberalization, and Consolidation of the Mexican Banking System: Effects on Competition
Joaquín Maudos, Liliana Solís
Journal of International Money and Finance | 30 | 2 | 337-353 | 2011

This paper analyzes the evolution of competition in the Mexican banking system in the period...

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Monetary Theory and Electronic Money: Reflections on the Kenyan Experience
William Jack, Tavneet Suri, Robert M. Townsend
Economic Quarterly - Federal Reserve Bank of Richmond | 96 | 1 | 83-122 | 2010
...
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Remittances and Banking Services: Evidence from Mexico
Ernesto Córdova, Asli Demirgüç-Kunt, María Pería, Christopher Woodruff
Journal of Development Economics | Forthcoming | 2010

Despite the importance of remittances to developing countries, their impact on banking sector...

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Welfare Gains from Financial Liberalization
Robert M. Townsend, Kenichi Ueda
International Economic Review | 51 | 3 | 553-597 | 2010

Financial liberalization has been a controversial issue, as empirical evidence for growth...

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