formal quantitative analysis. We begin with studies of the Dutch Republic, England, the U.S., France, Germany and Japan that … that the growth and increasing globalization of these economies might indeed have been 'finance-led.' …

. However, a financial institution -- perhaps best viewed as a savings bank -- can provide partial insurance by generating a … the bank faces a tradeoff between provision of insurance and maintenance of private incentives …

Most people in rural Africa do not have bank accounts. In this paper, we combine experimental and survey evidence from … had two parts. In the first part, we waived the fixed cost of opening a basic savings account at a local bank for a random … evidence suggests that the main reasons people did not begin saving in their bank accounts are that: (1) they do not trust the …