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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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Publisher 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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Find related papers by JEL classification:
F22 - International Economics - - International Factor Movements and International Business - - - International Migration
G21 - Financial Economics - - Financial Institutions and Services - - - Banks; Other Depository Institutions; Mortgages
J61 - Labor and Demographic Economics - - Mobility, Unemployment, and Vacancies - - - Geographic Labor Mobility; Immigrant Workers
O15 - Economic Development, Technological Change, and Growth - - Economic Development - - - Economic Development: Human Resources; Human Development; Income Distribution; Migration

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This page was last updated on 2009-12-1.

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