Private actors channel capital to inhabitants of developing countries through a growing variety of intermediaries. Some of those intermediaries operate much like conventional charities, some operate more like for-profit financial institutions, yet others combine features of these models. The...

Recent work suggests that non-financial firms have acted like financial intermediaries particularly in emerging economies. We corroborate these findings but then ask why? Our results indicate evidence for carry-trade activities but focused in countries with higher levels of capital controls,...

Recent work suggests non-financial firms have acted like financial intermediaries particularly in emerging economies. This paper corroborates these findings but then asks "why?". The results indicate evidence for carry-trade activities, but they are focused on countries with higher levels of...