The authors offer an analysis of one financial institution, a government-operated bank in Thailand, the Bank for Agriculture and Agricultural Cooperatives (BAAC). This article ties the actual BAAC operating systems to the theory of an optimal allocation of risk bearing. The lessons they draw in...

We propose a coherent unified approach to the study of the linkages among economic growth, financial structure, and inequality, bringing together disparate theoretical and empirical literature. That is, we show how to conduct model-based quantitative research on transitional paths. With...