New book by MIT Economist Robert M. Townsend establishes foundation for analyzing the impact of financial policies in developing countries. CHICAGO, March 22, 2011 Ever since widespread defaults on microloans in India thrust the microfinance industry into crisis, a compelling and fundamental question...

Thailand provides a unique backdrop in which to examine connections between growth and income inequality. Data show that as the Thai economy grew rapidly between 1976 and 1996, inequality increased and then decreased. Research indicates that a substantial portion of this trend of changing inequality...