Publications & Papers by Robert M. Townsend

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Rise of Bank Competition: Evidence from Banking Deregulation in China

Haoyu Gao, Hong Ru, Robert M. Townsend, Xiaoguang Yang
March 2023

Bank Branching Strategies in the 1997 Thai Financial Crisis and Local Access to Credit

Marc Rysman, Robert M. Townsend, and Christoph Walsh
February 2023
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Technologies that replace a 'central planner'

Robert M. Townsend and Nicolas XY. Zhang
January 2023

Sources

News Release on LinkedIn IMF Working Paper

A Multi-Currency Exchange and Contracting Platform

IMF Working Paper No. WP/22/217
Tobias Adrian, Federico Grinberg, Tommaso Mancini-Griffoli, Robert M. Townsend, and Nicolas Zhang
November 2022
website

Sources

Published Paper Open Access Prepublication version

The Village Money Market Revealed: Financial Access and Credit Chain Links Between Formal and Informal Sectors

Annual Review of Financial Economics, 14 (Nov): 1-20, 2022
Parit Sripakdeevong, Robert M. Townsend
November 2022
Journal of Political Economy

Sources

Prepublication Version Online Appendix

Dynamic Bank Expansion: Spatial Growth, Financial Access, and Inequality

Forthcoming, Journal of Political Economy
Yan Ji, Songyuan Teng, Robert M. Townsend
October 2022

Liquidity, Financial Centrality and the Value of Key Players

Chandrasekhar, Arun G., Robert M. Townsend, Juan Pablo Xandri
July 2022

Sources

IDB Research Insights

Propagation and Insurance in Village Networks

IDB Discussion Paper No. IDB-DP-960
Cynthia Kinnan, Krislert Samphantharak. Robert M. Townsend, Diego Vera-Cossio
July 2022
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Resource Allocation in Bank Supervision: Trade-offs and Outcomes

Journal of Finance, 77 (3): 1685-1736
Thomas M. Eisenbach, David O. Lucca, and Robert M. Townsend
June 2022

Public Ownership and Anti-Preemption

Juliano Assuncao, Sergey Mityakov, Robert M. Townsend
March 2022

Optimal Design of Tokenized Markets

Michael Junho Lee, Antoine Martin, and Robert M. Townsend
February 2022

Risk-taking over the Life Cycle: Aggregate and Distributive Implications of Entrepreneurial Risk

Dejanir H. Silva, Robert M. Townsend
February 2022

Kinship Networks Enhanced by a Formal Financial Intervention: Costly State Verification and the Thai Village Fund

Hong Ru and Robert M. Townsend
January 2022

Inequality and Globalization: Measurement Through the Lens of Integrated Financial Accounts

Gorman Manuscript
Archawa Paweenawat and Robert M. Townsend
September 2021

From Micro to Macro Development

Francisco J. Buera, , Joseph P. Kaboski, Robert M. Townsend
June 2021

Tiered Intermediation in Business Groups and Targeted SME Support

Yu Shi, Robert M. Townsend, Wu Zhu
March 2021
Journal of Political Economy

Sources

Online Appendix Prepublication pdf

A Market Based Solution for Fire Sales and Other Pecuniary Externalities

Journal of Political Economy, 129 (4): 981–1010
Weerachart T. Kilenthong and Robert M. Townsend
January 2021

Zero Settlement Risk Token Systems

Michael Junho Lee, Antoine Martin, and Robert M. Townsend
January 2021