For local governments in an emerging country, this study shows that only the few with more tax collection capacity can substitute federal transfers for bank debt.

Mariela Dal Borgo |

Exploiting the differences in preexisting bank market shares across Mexican labor markets, along with variation over time in total lending from each bank and empirically assess the causal impact…

Emilio Gutierrez, David Jaume, Martin Tobal |

Low and volatile agricultural incomes, poor connectivity, low population density and limited information are just a few reasons that have kept commercial banks away of rural areas in developing…

Miriam Bruhn, Claudia Ruiz, Rekha Reddy |

Every day more and more people in the world have access to financial services. In the minds of many, that poses an important risk. People need financial education, particularly in the form of…

Pablo Peña |

Access to formal financial services has been expanding in recent years.  But as people start to use these services for the first time, it has become clear that the challenge is not only providing…

Miriam Bruhn, Rekha Reddy |

Remittances, funds received from migrants working abroad, to developing countries have grown dramatically in recent years from U.S. $3.3 billion in 1975 to close to U.S. $338 billion in 2008. They…

Maria Soledad Martinez Peria |

Financial literacy has become an immensely popular component of financial reform across the world. As a response to the recent financial crisis, the United States government set up the President’s…

Bilal Zia |