The informal financial sector in the U . S . : The role of remittances

@inproceedings{Stanley2008TheIF,
  title={The informal financial sector in the U . S . : The role of remittances},
  author={Denise L. Stanley and Radha Bhattacharya},
  year={2008}
}
We investigate the interdependence between being unbanked and the decision to remit. Using data from our survey of the low-to-moderate-income (LMI) Hispanic community in a major U.S. metropolitan area, we find that higher income, more education, and greater proficiency in English decrease the probability of being unbanked. A key result is the positive correlation between latent factors that affect the decisions to remit money and to be unbanked. The presence of both institutional and self… CONTINUE READING

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