Neither by Land nor by Sea : The Rise of Electronic Remittances during COVID-19

Despite concerns that the COVID-19 economic collapse would torpedo international remittances, formal remittances to several developing countries ballooned early in the pandemic. This increase might, however, have reflected a shift from informal channels to formal ones rather than a change in actual...

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Main Authors:	Dinarte-Diaz, Lelys, Jaume, David, Medina-Cortina, Eduardo, Winkler, Hernan
Format:	Working Paper
Language:	English
Published:	World Bank, Washington, DC 2022
Subjects:	ELECTRONIC REMITTANCE INFORMAL REMITTANCE CHANNELS BANK ACCOUNT SURGE IN MEXICO COVID IMPACT ON REMITTANCES COVID-19 PANDEMIC IMPACT ON REMITTANCES FINANCIAL INCLUSION INTERNATIONAL MIGRATION
Online Access:	http://documents.worldbank.org/curated/en/099434205232231209/IDU0b9463f130c07f040160bb26018c9daadd997 http://hdl.handle.net/10986/37470

id	okr-10986-37470
recordtype	oai_dc
spelling	okr-10986-374702022-06-01T18:30:11Z Neither by Land nor by Sea : The Rise of Electronic Remittances during COVID-19 Dinarte-Diaz, Lelys Jaume, David Medina-Cortina, Eduardo Winkler, Hernan ELECTRONIC REMITTANCE INFORMAL REMITTANCE CHANNELS BANK ACCOUNT SURGE IN MEXICO COVID IMPACT ON REMITTANCES COVID-19 PANDEMIC IMPACT ON REMITTANCES FINANCIAL INCLUSION INTERNATIONAL MIGRATION Despite concerns that the COVID-19 economic collapse would torpedo international remittances, formal remittances to several developing countries ballooned early in the pandemic. This increase might, however, have reflected a shift from informal channels to formal ones rather than a change in actual flows. This paper employs Mexican data to explore this and finds that remittance channels did change. The rise in formal inflows was larger among municipalities that were previously more reliant on informal channels (for example, near a border crossing). Households there also experienced a disproportionate increase in bank accounts opened after lockdown measures. The paper also rules out hypotheses related to the US Coronavirus Aid, Relief, and. Economic Security Act and altruism. 2022-05-23T19:50:18Z 2022-05-23T19:50:18Z 2022-05 Working Paper http://documents.worldbank.org/curated/en/099434205232231209/IDU0b9463f130c07f040160bb26018c9daadd997 http://hdl.handle.net/10986/37470 English Policy Research Working Papers;10057 CC BY 3.0 IGO http://creativecommons.org/licenses/by/3.0/igo World Bank World Bank, Washington, DC Policy Research Working Paper Publications & Research Mexico
repository_type	Digital Repository
institution_category	Foreign Institution
institution	Digital Repositories
building	World Bank Open Knowledge Repository
collection	World Bank
language	English
topic	ELECTRONIC REMITTANCE INFORMAL REMITTANCE CHANNELS BANK ACCOUNT SURGE IN MEXICO COVID IMPACT ON REMITTANCES COVID-19 PANDEMIC IMPACT ON REMITTANCES FINANCIAL INCLUSION INTERNATIONAL MIGRATION
spellingShingle	ELECTRONIC REMITTANCE INFORMAL REMITTANCE CHANNELS BANK ACCOUNT SURGE IN MEXICO COVID IMPACT ON REMITTANCES COVID-19 PANDEMIC IMPACT ON REMITTANCES FINANCIAL INCLUSION INTERNATIONAL MIGRATION Dinarte-Diaz, Lelys Jaume, David Medina-Cortina, Eduardo Winkler, Hernan Neither by Land nor by Sea : The Rise of Electronic Remittances during COVID-19
geographic_facet	Mexico
relation	Policy Research Working Papers;10057
description	Despite concerns that the COVID-19 economic collapse would torpedo international remittances, formal remittances to several developing countries ballooned early in the pandemic. This increase might, however, have reflected a shift from informal channels to formal ones rather than a change in actual flows. This paper employs Mexican data to explore this and finds that remittance channels did change. The rise in formal inflows was larger among municipalities that were previously more reliant on informal channels (for example, near a border crossing). Households there also experienced a disproportionate increase in bank accounts opened after lockdown measures. The paper also rules out hypotheses related to the US Coronavirus Aid, Relief, and. Economic Security Act and altruism.
format	Working Paper
author	Dinarte-Diaz, Lelys Jaume, David Medina-Cortina, Eduardo Winkler, Hernan
author_facet	Dinarte-Diaz, Lelys Jaume, David Medina-Cortina, Eduardo Winkler, Hernan
author_sort	Dinarte-Diaz, Lelys
title	Neither by Land nor by Sea : The Rise of Electronic Remittances during COVID-19
title_short	Neither by Land nor by Sea : The Rise of Electronic Remittances during COVID-19
title_full	Neither by Land nor by Sea : The Rise of Electronic Remittances during COVID-19
title_fullStr	Neither by Land nor by Sea : The Rise of Electronic Remittances during COVID-19
title_full_unstemmed	Neither by Land nor by Sea : The Rise of Electronic Remittances during COVID-19
title_sort	neither by land nor by sea : the rise of electronic remittances during covid-19
publisher	World Bank, Washington, DC
publishDate	2022
url	http://documents.worldbank.org/curated/en/099434205232231209/IDU0b9463f130c07f040160bb26018c9daadd997 http://hdl.handle.net/10986/37470
_version_	1764487224129224704

Neither by Land nor by Sea : The Rise of Electronic Remittances during COVID-19

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