Economic Development, Flow of Funds and the Equilibrium Interaction of Financial Frictions

摘要: We use a variety of different datasets from Thailand to study not only the extremes micro and macro variables but also within-country flow funds labor migration. develop general equilibrium model that encompasses regional variation in type financial friction calibrate it measured aggregates. The predicts substantial capital flows rural urban areas even though these differ underlying regime. Predictions for used directly provide validation. Finally, we estimate impact policy counterfactual, isolationism.