The authors would like to thank Lauren Cohen, Sendil Ethiraj, Shane Greenstein, Lawrence Katz, Bill Kerr, Dylan Minor, Phanish Puranam, Pian Shu, Jasjit Singh, Claudia Steinwender; and seminar participants at Duke University, Harvard University, the International Economic Association (IEA) meetings in Beijing, INSEAD, London School of Economics, the Seventh International Conference on Migration and Development, University of Oxford, NYU Stern School of Business, Washington University St. Louis, Wharton, and the World Bank DECTI seminar for their comments on a previous draft.