Mobile money, defined as the use of mobile phones to conduct financial transactions, can bring many benefits to individuals, particularly in developing countries. Yet, very little is known about the factors behind its adoption. This study uses nationally representative individual-level survey...

Two seemingly unconnected empirical results suggest an intriguing mechanism. First, economic integration helps harmonize prices internationally, with trade being the primary channel (Rogoff 1996, Goldberg and Knetter 1997). Second, monetary union may greatly increase the amount of trade among...