The U.S.–Mexico Remittance Corridor : Lessons on Shifting from Informal to Formal Transfer Systems
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Washington, DC: World Bank
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Examining the experience of the
U.S.-Mexico remittances corridor over the last eight years,
this title derives specific lessons that could be applicable
to other remittance corridors when shifting from informal to
formal systems. Lessons focuses on a few selected aspects of
the remittance experience and breaks down the remittance
process into three stages: the First Mile, when decisions
are in the hands of the remittance sender; the Intermediary
Stage, comprising the systems that facilitate the
cross-border transfer of funds, and; the Last Mile, where
the funds reach the hands of the remittance recipient. By
analyzing the objectives, obstacles, incentives, and changes
occurring at each of these stages in the U.S.-Mexico
corridor, lessons are drawn for other remittance sending and
receiving countries that seek to encourage formalization of
the flows.
Palabras clave
ACCOUNTING, BANK ACCOUNTS, BANKING INSTITUTIONS, BANKING SYSTEM, BANKS, CENTRAL GOVERNMENTS, CERTIFICATES, CHECKING, CITIES, CLEARANCE, CLEARING HOUSE, COMMERCIAL BANKS, COMMUNITIES, CONFIDENTIALITY, CREDIT INSTITUTIONS, CREDIT UNIONS, CURRENT ACCOUNT, DEPOSITS, DEVELOPMENT FINANCE, DEVELOPMENT, DIRECT INVESTMENT, EMPLOYMENT, EXCHANGE RATES, EXPENDITURES, FAMILIES, FEDERAL DEPOSIT INSURANCE, FEDERAL DEPOSIT INSURANCE CORPORATION, FIELD RESEARCH, FINANCE MINISTERS, FINANCIAL ASSETS, FINANCIAL EDUCATION, FINANCIAL MARKET, FINANCIAL OPTIONS, FINANCIAL PRACTICES, FINANCIAL PRODUCTS, FINANCIAL SECTOR, FINANCIAL SERVICES, FINANCIAL SYSTEM, FOREIGN ASSETS, FOREIGN EXCHANGE, FUNDS TRANSFER, FUNDS TRANSFER SYSTEMS, GLOBAL DEVELOPMENT FINANCE, IMMIGRATION, INCOME, INFORMATION NEEDS, INSURANCE, INTEGRITY, INTERMEDIARIES, INTERNATIONAL FINANCIAL INSTITUTIONS, JURISDICTION, JURISDICTIONS, LAWS, LEGAL SYSTEMS, LESSONS LEARNED, MARKETING, MICROFINANCE, MIGRANTS, MONETARY AUTHORITIES, MONEY LAUNDERING, MONEY ORDERS, OFFSETTING, PARENTS, PARTNERSHIP, POPULATION GROWTH, PRIVATE SECTOR, PUBLIC POLICY, REGULATORY ENVIRONMENT, REGULATORY FRAMEWORK, SAFETY, SAVINGS, SERVICE PROVIDERS, SOCIETY FOR WORLDWIDE INTERBANK FINANCIAL TELECOMMUNICATION, SUBSIDIARY, SWIFT, TRANSPARENCY, WORKERS