We provide new micro evidence on the discussion about the relationship between financial development and welfare. Relying on the concept of local financial development our analysis focuses on three dimensions of household welfare: vulnerability to poverty, investment, and consumption smoothing....

This paper examines the nature of risk faced by households in Thailand and the strategies that these households adopt to mitigate the adverse effect from income shortfalls. I use a new cross-section dataset that is based on a sample of both urban and rural households. I find that price shock is...

We provide new micro evidence on the relationship between financial development and welfare. Relying on the concept of local financial development, our analysis focuses on two dimensions of household welfare: investment and consumption. The results show that financial development is associated...