Remittances, Transaction Costs, and Informality

@inproceedings{Freund2008RemittancesTC,
  title={Remittances, Transaction Costs, and Informality},
  author={Caroline L. Freund and Nikola L. Spatafora},
  year={2008}
}
Recorded workers' remittances to developing countries reached $167Â billion in 2005, bringing increasing attention to these flows as a potential tool for development. In this paper, we explore the determinants of remittances and their associated transaction costs. We find that recorded remittances depend positively on the stock of migrants and negatively on transfer costs and exchange rate restrictions. In turn, transfer costs are lower when financial systems are more developed and exchange… CONTINUE READING

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