The Canada-Vietnam Remittance Corridor : Lessons on Shifting from Informal to Formal Transfer Systems
Examining the experience of the Canada-Vietnam remittances corridor over the past several years, this title is a first step towards identifying the main features and pointing out some of the areas and issues that researchers and authorities should...
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| Format: | Publication |
| Language: | English en_US |
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Washington, DC: World Bank
2012
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| Online Access: | http://documents.worldbank.org/curated/en/2005/03/5760195/canada-vietnam-remittance-corridor-lessons-shifting-informal-formal-transfer-systems http://hdl.handle.net/10986/7312 |
| Summary: | Examining the experience of the
Canada-Vietnam remittances corridor over the past several
years, this title is a first step towards identifying the
main features and pointing out some of the areas and issues
that researchers and authorities should examine more
closely. In contrast to the large size and advanced level of
development of the U.S.-Mexico remittances corridor,
examined in the first case study, the Canada-Vietnam
corridor is small in absolute terms and still at a nascent
stage of shifting from informal to formal systems. For
purposes of discussion, The Canada-Vietnam Remittance
Corridor breaks down the remittance process into three
stages: the First Mile, when decisions are in the hands of
the remittance sender; the Intermediary Stage, comprising
the systems that facilitate the cross-border transfer of
funds, and; the Last Mile, where the funds reach the hands
of the remittance recipient. By analyzing the objectives,
obstacles, incentives, and changes occurring at each of
these stages in the Canada-Vietnam corridor, lessons are
drawn for other remittance sending and receiving countries
that seek to encourage formalization of the flows. |
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