Massachusetts Institute of Technology (MIT) Economist Robert M Townsend offers a framework for evaluating the impact of various financial policies in emerging economies in his new book, Financial Systems in Developing Economies. A review of the Thai economy serves as a case study to warn that “Without a better framework, we risk greatly misunderstanding the effects of ‘helpful’ actions in developing countries” [1]. The book features an analysis of the Thai government’s 1997 decision to allocate one and a half percent of the national GDP into a village-level savings and loan program.
Published by Oxford University Press, the book is available for purchase online at http://ukcatalogue.oup.com/product/9780199533237.do.
By Jacqueline Foelster, Research Associate
[1] Press release provided by Consortium on Financial Systems and Poverty to MicroCapital, March 2011. Also available at http://www.cfsp.org/publications/book/financial-systems-developing-economies-0
MicroCapital.org Special Report, March 2, 2011, “An Interview with Chris Urdy on Agricultural Microinsurance in Ghana from the Consortium on Financial Systems and Poverty”, https://www.microcapital.org/special-feature-an-interview-with-chris-urdy-on-agricultural-microinsurance-in-ghana-from-the-consortium-on-financial-systems-and-poverty/
MicroCapital.org Brief, March 1, 2011, “Thailand’s Ministry of Finance Launches Community Banking Program Based on Microfinance Model of Grameen Bank, Bank for Agriculture and Agricultural Cooperatives (BAAC) Sets Aside $321m for Lending, Staff Training”, https://www.microcapital.org/microcapital-brief-thailand%E2%80%99s-ministry-of-finance-launches-community-banking-program-based-on-microfinance-model-of-grameen-bank-bank-for-agriculture-and-agricultural-cooperatives-baac-set/
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