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Title:Financial Development and Household Welfare: Microevidence from Thai Households
Authors:Gloede, Oliver
Rungruxsirivorn, Ornsiri
Issue Date:2010
Series/Report no.:Proceedings of the German Development Economics Conference, Hannover 2010 38
Abstract: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. Even though we cannot find a significant effect on vulnerability, we provide evidence that financial development is correlated with higher investment and better possibilities to smooth consumption. The extent of both effects is also economically significant. Our results hold for alternative specifications and variations in the measurement of financial development.
Subjects:financial development
credit rationing
vulnerability
consumption smoothing
investment
poverty
growth
JEL:O16
O17
G21
Is replaced by the following version:http://hdl.handle.net/10419/54736
Document Type:Conference Paper
Appears in Collections:Proceedings of the German Development Economics Conference, 2010 (Hannover)

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