Local Financial Development and Household Welfare: Microevidence from Thai Households
AbstractWe 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. --
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Bibliographic InfoPaper provided by Verein für Socialpolitik, Research Committee Development Economics in its series Proceedings of the German Development Economics Conference, Hannover 2010 with number 38 [rev.].
Date of creation: 2012
Date of revision:
credit rationing; investment; consumption; consumption smoothing; growth;
Other versions of this item:
- Oliver Gloede & Ornsiri Rungruxsirivorn, 2013. "Local Financial Development and Household Welfare: Microevidence from Thai Households," Emerging Markets Finance and Trade, M.E. Sharpe, Inc., M.E. Sharpe, Inc., vol. 49(4), pages 22-45, July.
- O16 - Economic Development, Technological Change, and Growth - - Economic Development - - - Financial Markets; Saving and Capital Investment; Corporate Finance and Governance
- G21 - Financial Economics - - Financial Institutions and Services - - - Banks; Other Depository Institutions; Micro Finance Institutions; Mortgages
- D12 - Microeconomics - - Household Behavior - - - Consumer Economics: Empirical Analysis
- D24 - Microeconomics - - Production and Organizations - - - Production; Cost; Capital; Capital, Total Factor, and Multifactor Productivity; Capacity
This paper has been announced in the following NEP Reports:
- NEP-ALL-2012-02-01 (All new papers)
- NEP-DEV-2012-02-01 (Development)
- NEP-FDG-2012-02-01 (Financial Development & Growth)
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