Sangam: A Confluence of Knowledge Streams

Village and Larger Economies: The Theory and Measurement of the Townsend Thai Project

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dc.contributor Massachusetts Institute of Technology. Department of Economics
dc.contributor Townsend, Robert
dc.creator Townsend, Robert
dc.date 2018-03-15T22:04:32Z
dc.date 2018-03-15T22:04:32Z
dc.date 2016-11
dc.date 2018-03-01T17:17:06Z
dc.date.accessioned 2023-03-01T18:11:04Z
dc.date.available 2023-03-01T18:11:04Z
dc.identifier 0895-3309
dc.identifier http://hdl.handle.net/1721.1/114172
dc.identifier Townsend, Robert M. “Village and Larger Economies: The Theory and Measurement of the Townsend Thai Project.” Journal of Economic Perspectives 30, no. 4 (November 2016): 199–220. © 2016 American Economic Association
dc.identifier https://orcid.org/0000-0002-1528-8102
dc.identifier.uri http://localhost:8080/xmlui/handle/CUHPOERS/279068
dc.description I have spent close to 20 years cataloging transactions between households in Thai villages, along with a research team. Just this past summer, we documented a number of ways in which even relatively poor villages have money markets not dissimilar in some ways from New York financial markets, with borrowing and repayment passing along links in credit chains. In another project, we have been looking at month-by-month school attendance, grade level completion, and graduation for children in these villages, following them from birth to graduation. The Townsend Thai project is a theory-based data collection endeavor, measuring and mapping village and larger economies into general equilibrium frameworks. This paper reviews a number of findings, implications, applications, and lessons learned, and considers next steps.
dc.format application/pdf
dc.publisher American Economic Association
dc.relation http://dx.doi.org/10.1257/JEP.30.4.199
dc.relation Journal of Economic Perspectives
dc.rights Article is made available in accordance with the publisher's policy and may be subject to US copyright law. Please refer to the publisher's site for terms of use.
dc.source American Economic Association
dc.title Village and Larger Economies: The Theory and Measurement of the Townsend Thai Project
dc.type Article
dc.type http://purl.org/eprint/type/JournalArticle


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