We examine the role of trust in financial institutions as a necessary condition for the wider use of formal financial services by the poor. We randomly assigned beneficiaries of a conditional cash transfer program in 130 villages in Peru to attend a 3.5 hour training session designed to build...

Public expenditures on non-contributory pensions are equivalent to at least 1 percent of GDP in several countries in Latin America and is expected to increase. We explore the effect of non-contributory pensions on the well-being of the beneficiary population by studying the Pension 65 program in...

The potential benefits of demand side interventions may leak into the profits of suppliers whenever there is market power. In those situations, governments could attempt to regulate the market or to increase competition. We provide the first experimental evidence on the effect of increased...