This paper provides a comprehensive description of the financial environment for households and small businesses in a defined geographical region. It develops a new, functional approach to financial access surveys, which involves asking detailed questions about how respondents meet their...

In mehreren Ländern, einschließlich Japans, wurden in den 1980er Jahren drei signifikante "Anomalien" beobachtet, welche den traditionellen monetären Ansatz in Frage stellen: 1. Der scheinbare Abfall der Geldumlaufgeschwindigkeit und die sich daraus ergebende Instabilität der Geldnachfrage;...

Credit market imperfections have been blamed for the depth and persistence of the Great Depression in the USA. Could similar mechanisms have played a role in ending the East Asian miracle? After a brief account of the nature of the recent crisis, we use a model of highly levered...

India has seen many high-growth spells between 1980-2007. At the same time, there is a great deal of concern that these high rates of growth are not trickling down to the poor, or at least not rapidly enough. Some states in India are growing much more rapidly than others exacerbating...