A remarkable fact of the mushrooming remittances market is the absence of commercial banks as relevant players …'s) due to migrants' mistrust to banks, which hinders the access of banks to the market. Altruism compounded with a non …-competitive market allows MTO's to set excessively high remittance fees and to attain monopolistic rents. The model shows that banks can …

sector development leads to faster growth, and also Barth’s view that state involvement leads to poorly developed banks. …

theoretical predictions regarding the liquidity transformation function of banks. Furthermore, using the same data set, the … liquid stock markets, and with more privately owned domestic banks. Furthermore, the results suggest that credit information …