Financial systems in developing countries: how poor people lift themselves out of poverty

An 18 minutes 45 second interview with Prof. Robert Townsend of MIT, conducted by Stephen Yeo in London last month is available from Voxeu Audio: 

(MP3 file 17.1MB)

Robert Townsend of MIT talks about his research on how the lives of the world’s poor can be improved through more efficient financial systems. Drawing on data gathered from an extensive survey of Thai households, Townsend discusses risk-sharing and the importance of networks, the rate of saving and return on assets, and villages as small, open economies.

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