Using data collected among exchange institutions in Colombia in 2004, we evidence large differences in the amounts of remittances received from migrants living in the US and from migrants living in Spain. Drawing on quantile decomposition, we show that the gap between the two destination...

We consider a model of international migration with heterogeneity in the skill level of workers which accounts for country-specific educational investment, unemployment expectations and return to the origin country. We prove that migrants invest less than natives in human capital formation...

This paper examines the relationship between globalization, financial deepening, and inequality in sub-Saharan Africa between 1980 and 2002. We provide the first detailed econometric analysis in this regard covering the entire sub-Saharan African region; such an analysis has hardly been...

While the theoretical literature has found that intense competition leads to the poorest borrowers dropping out of the microfinance market, we do not possess sufficient research accumulated for empirical analysis in this field. This paper examines the empirical relationship between competition...