1. Department of Economics, New York University, 269 Mercer Street, New York, NY 10003, Center for Global Development, and National Bureau of Economic Research.
2. Department of Finance, Carlson School of Management, University of Minnesota, 321 19th Avenue South, Minneapolis, MN 55455, and National Bureau of Economic Research.
3. Center for Global Development, 1776 Massachusetts Avenue NW, Washington, DC 20036.