We thank HeeSung Kim and Theo Kulczycki for excellent research assistance. We appreciate feedback from Ran Abramitzky, Toman Barsbai, Sam Bazzi, Gustavo Bobonis, Loren Brandt, Emily Breza, Brian Cadena, Lorenzo Casaburi, Dasha Celik, Levent Celik, Michael Clemens, Taryn Dinkelman, Michael Donihue, Christian Dustmann, Eric Edmonds, Ryan Edwards, Dennis Egger, Alejandro Estefan, Ben Faber, Xavi Giné, Joseph Gomes, Jessica Goldberg, André Gröger, Matthias Hoelzlein, Joe Kaboski, Andrea Matranga, David McKenzie, Melanie Morten, Pablo Ottonello, Owen Ozier, Dina Pomerantz, Tommaso Porzio, Imran Rasul, Yasu Sawada, Alex Scacco, Matti Sarvimäki, Mahesh Shrestha, Manisha Shah, Sebastian Sotelo, Andreas Steinmayr, Marko Terviö, Lore Vandewalle, Peter Varela, David Yanagizawa-Drott, Xiaodong Zhu, and seminar participants at Universitat Autonoma de Barcelona, U. Munich, U. Navarra, U. Zurich, Higher School of Economics, New Economic School, Helsinki Center of Economic Research (HECER), Development Network Berlin (DENeB), Asian Development Bank, U. Toronto, Australian National University, University College London, Ateneo de Manila, U. Paris 1 Panthéon-Sorbonne, the U.K. Foreign, Commonwealth, & Development Office (FCDO), Notre Dame University, the 2015 and 2018 International Conference on Migration and Development, the 2017 Centro Studi Luca d‘Agliano/Colegio Carlo Alberto/FIERI Migration Conference, the 2018 Geneva Workshop on Financial Inclusion in Developing Countries (Graduate Institute Geneva), the 2018 Barcelona GSE Migration Summer Forum, NEUDC, the 2018 IZA Migration Meeting, the 2021 Asia Impact Evaluation Conference (HKUST/ADB/KDI), and the 2022 NBER Summer Institute (Development Economics Program). The views expressed herein are those of the authors and do not necessarily reflect the views of the National Bureau of Economic Research.