Remittance Markets in Africa

A substantive literature suggests that migration generates benefits for migrants, the host societies, and the countries of origin. The economic benefits for the countries of origin are realized primarily through the receipt of remittances. These la...

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Main Authors:	Mohapatra, Sanket, Ratha, Dilip
Format:	Publication
Language:	English
Published:	World Bank 2012
Subjects:	COSTS COUNTRIES OF ORIGIN ECONOMIC BENEFITS HOST SOCIETIES IMPROVED EDUCATION OUTCOMES IMPROVED HEALTH OUTCOMES INNOVATIVE TECHNOLOGIES MIGRANTS MIGRATION POVERTY REDUCTION REMITTANCES SMALL BUSINESS INVESTMENTS
Online Access:	http://www-wds.worldbank.org/external/default/main?menuPK=64187510&pagePK=64193027&piPK=64187937&theSitePK=523679&menuPK=64187510&searchMenuPK=64187283&siteName=WDS&entityID=000386194_20110425022055 http://hdl.handle.net/10986/2292

id	okr-10986-2292
recordtype	oai_dc
spelling	okr-10986-22922021-04-23T14:02:00Z Remittance Markets in Africa Mohapatra, Sanket Ratha, Dilip COSTS COUNTRIES OF ORIGIN ECONOMIC BENEFITS HOST SOCIETIES IMPROVED EDUCATION OUTCOMES IMPROVED HEALTH OUTCOMES INNOVATIVE TECHNOLOGIES MIGRANTS MIGRATION POVERTY REDUCTION REMITTANCES SMALL BUSINESS INVESTMENTS A substantive literature suggests that migration generates benefits for migrants, the host societies, and the countries of origin. The economic benefits for the countries of origin are realized primarily through the receipt of remittances. These large and stable resource flows remained relatively resilient during the global financial crisis compared to steep declines in private capital flows, and they have quickly recovered to the pre crisis levels. African countries are estimated to have received $40 billion in officially recorded flows in 2010, but the true size is believed to be far larger. Remittances are associated with reduction in poverty, improved education and health outcomes, and increased availability of funds for small business investments. Remittances represent a positive and relatively noncontroversial outcome of migration. This volume brings together studies of remittance markets in eight Sub-Saharan African countries and two key destinations for African migrants outside the African continent. It provides an overview of the remittance markets, and the policy and institutional environments in both sending and receiving countries. Based on primary surveys of remittance service providers about the types of remittance services, barriers to entry and exit, legal and regulatory environment, remittance costs, and innovative technologies, the chapters of this volume provide a unique window into the functioning of remittance markets in this region. the volume, measures to reduce remittance fees, increase market competition and consumer protection, increase the involvement of post offices and other non-bank institutions, and encourage the extension of mobile money transfer services to cross-border remittances will benefit the ultimate clients, the people of Africa. I hope that the findings of this volume will motivate more research, improved data collection, and policy action in the area of migrant remittances in Africa. 2012-03-19T09:03:25Z 2012-03-19T09:03:25Z 2011-04-21 http://www-wds.worldbank.org/external/default/main?menuPK=64187510&pagePK=64193027&piPK=64187937&theSitePK=523679&menuPK=64187510&searchMenuPK=64187283&siteName=WDS&entityID=000386194_20110425022055 978-0-8213-8475-6 http://hdl.handle.net/10986/2292 English Directions in Development ; finance CC BY 3.0 IGO http://creativecommons.org/licenses/by/3.0/igo World Bank World Bank Publications & Research :: Publication Publications & Research :: Publication Africa
repository_type	Digital Repository
institution_category	Foreign Institution
institution	Digital Repositories
building	World Bank Open Knowledge Repository
collection	World Bank
language	English
topic	COSTS COUNTRIES OF ORIGIN ECONOMIC BENEFITS HOST SOCIETIES IMPROVED EDUCATION OUTCOMES IMPROVED HEALTH OUTCOMES INNOVATIVE TECHNOLOGIES MIGRANTS MIGRATION POVERTY REDUCTION REMITTANCES SMALL BUSINESS INVESTMENTS
spellingShingle	COSTS COUNTRIES OF ORIGIN ECONOMIC BENEFITS HOST SOCIETIES IMPROVED EDUCATION OUTCOMES IMPROVED HEALTH OUTCOMES INNOVATIVE TECHNOLOGIES MIGRANTS MIGRATION POVERTY REDUCTION REMITTANCES SMALL BUSINESS INVESTMENTS Mohapatra, Sanket Ratha, Dilip Remittance Markets in Africa
geographic_facet	Africa
relation	Directions in Development ; finance
description	A substantive literature suggests that migration generates benefits for migrants, the host societies, and the countries of origin. The economic benefits for the countries of origin are realized primarily through the receipt of remittances. These large and stable resource flows remained relatively resilient during the global financial crisis compared to steep declines in private capital flows, and they have quickly recovered to the pre crisis levels. African countries are estimated to have received $40 billion in officially recorded flows in 2010, but the true size is believed to be far larger. Remittances are associated with reduction in poverty, improved education and health outcomes, and increased availability of funds for small business investments. Remittances represent a positive and relatively noncontroversial outcome of migration. This volume brings together studies of remittance markets in eight Sub-Saharan African countries and two key destinations for African migrants outside the African continent. It provides an overview of the remittance markets, and the policy and institutional environments in both sending and receiving countries. Based on primary surveys of remittance service providers about the types of remittance services, barriers to entry and exit, legal and regulatory environment, remittance costs, and innovative technologies, the chapters of this volume provide a unique window into the functioning of remittance markets in this region. the volume, measures to reduce remittance fees, increase market competition and consumer protection, increase the involvement of post offices and other non-bank institutions, and encourage the extension of mobile money transfer services to cross-border remittances will benefit the ultimate clients, the people of Africa. I hope that the findings of this volume will motivate more research, improved data collection, and policy action in the area of migrant remittances in Africa.
format	Publications & Research :: Publication
author	Mohapatra, Sanket Ratha, Dilip
author_facet	Mohapatra, Sanket Ratha, Dilip
author_sort	Mohapatra, Sanket
title	Remittance Markets in Africa
title_short	Remittance Markets in Africa
title_full	Remittance Markets in Africa
title_fullStr	Remittance Markets in Africa
title_full_unstemmed	Remittance Markets in Africa
title_sort	remittance markets in africa
publisher	World Bank
publishDate	2012
url	http://www-wds.worldbank.org/external/default/main?menuPK=64187510&pagePK=64193027&piPK=64187937&theSitePK=523679&menuPK=64187510&searchMenuPK=64187283&siteName=WDS&entityID=000386194_20110425022055 http://hdl.handle.net/10986/2292
_version_	1764385193775333376

Remittance Markets in Africa

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