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

  title={The informal financial sector in the U . S . : The role of remittances},
  author={Denise L. Stanley and Radha Bhattacharya},
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

From This Paper

Topics from this paper.


Publications citing this paper.


Publications referenced by this paper.
Showing 1-10 of 47 references

The importance of check-cashing business to the unbanked: racial/ethnic differences

S. Rhine, W. Greene, M. Toussaint-Comeau
The Review of Economics and Statistics, • 2006
View 20 Excerpts
Highly Influenced

The role of banks and nonbanks in serving low - and moderate - income communities

C. Dunham
View 4 Excerpts
Highly Influenced

Remittances and markets: New players and practices

M. Orozco
View 3 Excerpts
Highly Influenced

Fringe banking: Check-cashing outlets, pawnshops and the poor

Madison, WI: Filene Research Institute. Caskey, J. P • 1994
View 3 Excerpts
Highly Influenced

Interest rates in the organized money markets of underdeveloped countries

U. Tun Wai
International Monetary Fund Staff Papers • 1955
View 3 Excerpts
Highly Influenced

If you build it, will they come?

Clinical journal of oncology nursing • 2007
View 1 Excerpt

Recent changes in U.S. family finances: Evidence

Brief, B. No. 15. Bucks, A. Kennickell, K. Moore

A survey of remittance senders and receivers

R. Suro
View 2 Excerpts

Similar Papers

Loading similar papers…