Advanced Search
MyIDEAS: Login

Migrant Remittance Flows : Findings from a Global Survey of Central Banks

Contents:

Author Info

  • Jacqueline Irving
  • Sanket Mohapatra
  • Dilip Ratha

Abstract

Drawing on the findings from responses to a survey conducted in 2008-09 from 114 central banks worldwide (of which 33 are in Africa), this paper aims to better understand how central banks and other national institutions regulate and collect data and other information on cross-border remittance flows. Findings indicate that, although the vast majority of countries, in both sending and receiving countries, collect data on remittances, and 43 percent of receiving countries estimate informal remittances, there is a need for more frequent and better coordinated data collection, both across national institutions and among different divisions within the same national institution, as well as between countries. Survey results also indicate that many new market entrants' transfer activities are unregulated. Countries must take into account new channels and technologies, such as mobile phone service providers, in monitoring remittance flows. It will be important for national regulatory authorities to work closely with mobile telecoms network operators to strike the right regulatory balance, to better understand these new channels' associated risks and fully tap their potential for fostering inexpensive, efficient remittance transfer services. The high cost of transfers was cited in the survey as the top factor inhibiting migrants from using formal channels. Many countries, particularly in Africa, have made progress in rendering exclusivity contracts illegal, which can help increase competitiveness and reduce transfer costs. Further policy reforms and initiatives are needed to address the high costs of remittances.

Download Info

If you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
File URL: https://openknowledge.worldbank.org/bitstream/handle/10986/5929/538840PUB0Migr101Official0Use0Only1.pdf?sequence=1
Download Restriction: no

Bibliographic Info

as in new window
This book is provided by The World Bank in its series World Bank Publications with number 5929 and published in 2010.

ISBN: 978-0-8213-8360-5
Handle: RePEc:wbk:wbpubs:5929

Contact details of provider:
Postal: 1818 H Street, N.W., Washington, DC 20433
Phone: (202) 477-1234
Email:
Web page: https://openknowledge.worldbank.org
More information through EDIRC

Related research

Keywords: Finance and Financial Sector Development - Debt Markets Finance and Financial Sector Development - Banks & Banking Reform Finance and Financial Sector Development - Currencies and Exchange Rates Macroeconomics and Economic Growth - Remittances Finance and Financial Sector Development - Access to Finance;

References

No references listed on IDEAS
You can help add them by filling out this form.

Citations

Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
as in new window

Cited by:
  1. Ratha, Dilip & Mohapatra, Sanket & Scheja, Elina, 2011. "Impact of migration on economic and social development : a review of evidence and emerging issues," Policy Research Working Paper Series 5558, The World Bank.
  2. World Bank, 2011. "Migration and Remittances Factbook 2011 : Second Edition," World Bank Publications, The World Bank, number 2522, October.
  3. Jayaraman, T. K. & Choong, Chee-Keong & Kumar, Ronald, 2011. "Role of Remittances in Economic Development: An Empirical Study of World’s Two Most Remittances Dependent Pacific Island Economies," MPRA Paper 33197, University Library of Munich, Germany.
  4. Kumar, Ronald/R, 2011. "Role of Trade, Aid, Remittances and Financial Development in Pakistan," MPRA Paper 38871, University Library of Munich, Germany.
  5. Aggarwal, Reena & Demirgüç-Kunt, Asli & Pería, Maria Soledad Martínez, 2011. "Do remittances promote financial development?," Journal of Development Economics, Elsevier, vol. 96(2), pages 255-264, November.
  6. Josef Brada & Ali Kutan & Goran Vukšić, 2011. "The costs of moving money across borders and the volume of capital flight: the case of Russia and other CIS countries," Review of World Economics (Weltwirtschaftliches Archiv), Springer, vol. 147(4), pages 717-744, November.
  7. Kumar, Ronald R., 2011. "Role of Financial and Technology Inclusion, Remittances and Exports vis-à-vis growth: A study of Nepal," MPRA Paper 38850, University Library of Munich, Germany, revised 17 May 2012.
  8. Kumar, Ronald R., 2010. "Impact of trade openness, remittances, capital inflows & financial development on income in Vanuatu," MPRA Paper 33221, University Library of Munich, Germany.

Lists

This item is not listed on Wikipedia, on a reading list or among the top items on IDEAS.

Statistics

Access and download statistics

Corrections

When requesting a correction, please mention this item's handle: RePEc:wbk:wbpubs:5929. See general information about how to correct material in RePEc.

For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Thomas Breineder).

If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

If references are entirely missing, you can add them using this form.

If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.

If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.

Please note that corrections may take a couple of weeks to filter through the various RePEc services.