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Access to Banking Services and Money Transfers by Mexican Immigrants

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Author Info

  • Cynthia Bansak

    ()
    (Department of Economics, San Diego State University)

  • Catalina Amuedo-Dorantes

    ()
    (Department of Economics, San Diego State University)

Abstract

Increased access to the U.S. financial system through banks’ recognition of the ‘matrícula consular’ identification card may encourage Mexican immigrants to save and transfer more money home. Using data from the Mexican Migration Project, we examine whether immigrants with bank accounts in the U.S. between 1970 and 2002 sent more funds to Mexico than their unbanked counterparts. While having a U.S. bank account does not raise monthly remittances by Mexican immigrants, it boosts the amount brought back home by more than $6000 per trip. These findings suggest that increased usage of banks by immigrants may enhance future flows of funds to Mexico.

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File URL: http://www-rohan.sdsu.edu/dept/econ/WPSeries/WorkingPaper0503.pdf
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Bibliographic Info

Paper provided by San Diego State University, Department of Economics in its series Working Papers with number 0003.

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Length: 44 pages
Date of creation: Oct 2004
Date of revision:
Handle: RePEc:sds:wpaper:0003

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  1. Brown, Richard P. C., 1997. "Estimating remittance functions for Pacific Island Migrants," World Development, Elsevier, vol. 25(4), pages 613-626, January.
  2. Carroll, Chris & Summers, Lawrence H., 1987. "Why have private savings rates in the United States and Canada diverged?," Journal of Monetary Economics, Elsevier, vol. 20(2), pages 249-279, September.
  3. Chiuri, Maria Concetta, 2000. "Individual decisions and household demand for consumption and leisure," Research in Economics, Elsevier, vol. 54(3), pages 277-324, September.
  4. Gertrud Schrieder & Beatrice Knerr, 2000. "Labour Migration as a Social Security Mechanism for Smallholder Households in Sub-Saharan Africa: The Case of Cameroon," Oxford Development Studies, Taylor & Francis Journals, vol. 28(2), pages 223-236.
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