international remittances
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Author(s):  
Jing Jin

Mobile money, together with mobile broadband, is likely to be the primary growth engine for emerging market mobile network carriers. The service is gaining popularity and is beginning to contribute considerably to telecom income. There are still 2 billion individuals worldwide who do not have a bank account. This group is primarily located in less developed areas (Africa, part of Asia, and Latin America). A typical use case of a distant worker sending money to the family for living expenses is highly expensive for persons who do not have financial inclusion. Mobile penetration is substantially higher, allowing for these remittances to be sent in a cost-effective and simple manner. Because the system is based on feature phones and 2G technology, end users do not need to have the most recent smartphone or mobile broadband (SMS or Unstructured Supplementary Service Data-USSD channel). The most common application is domestic remittance. Bill payments and merchant payments are two others. International remittances are now feasible across various operators as well (cross-MNO agreements). Globally, there were already more than 100 million active mobile money accounts in 2014, with services available in around 90 countries.


Every institution is now doing business transactions through digital financing system. Digital financing solutions offer great potential to overcome challenges and contribute toward achieving universal access to financial services. However, it is noticed that insufficiency of technological up-gradation and various issues created by hackers that might include fraudulent online transactions as an example, hampers people who are not aware of the other side of technology. There are three stages in the implementation of digital finance viz., Fintech, Regtech and Suptech. ‘Fintech’ is an application of Technology for financial services that include; digital payments and e-money, international remittances, personal and business loans, peer-topeer lending platforms, crowd funding platforms, Robo-advisors, Crypto currencies like Bitcoin, Altcoin, etc. ‘Regtech’ is a contraction of the terms ‘regulatory’ and ‘technology’ and it describes the context of regulatory monitoring, reporting, and compliance. ‘Suptech’ is derived from ‘Supervision’ and ‘Technology’, which monitors ‘Fintech’ and ‘Regtech’. The rise of Fintech will undermine the widespread assumption that the primary source of systemic risk in the financial sector is the domination of large, “systemically important” banks and other financial institutions. On this backdrop, this paper aimed to explore the importance of Fintech, Regtech, and Suptech as three stage approach to digital finance. This paper makes a focus as the special dynamics regarding how Fintech, Regtech, and Suptech as three stage approach to digital finance work and will become the better substitute of banks and other financial systems. Based on review of secondary sources, this paper highlights: 1. the problems and obstacles faced by corporate entities in digital finance and 2. the interdependency of three dimensions of technology viz., Fintech, Regtech and Suptech. Keywords: Digital finance, Financial literacy, Fintech, Regtech and Suptech.


2021 ◽  
Author(s):  
Verónica Frisancho ◽  
Eric Parrado

Remittances constitute a significant safety net for millions of households in Latin America and the Caribbean (LAC). Consequently, changes in international transfers can be a crucial agent of transmission of the COVID-19 induced economic crisis from richer to poorer nations and from urban to rural areas. Relying on data on queries to the search engine Google between December 2018 and July 2021, this study looks at the evolution of demand for in-person versus digital international transfer services and evaluates if take-up rates of different types of service providers trace the initial drop and subsequent rebound of remittances. The recovery of remittances was accompanied by a modest and temporary increase in the interest in digital mechanisms for sending money to home countries, which is accompanied by lower demand for brick-and-mortar service providers.


2021 ◽  
Vol 12 ◽  
pp. 0
Author(s):  
Rosa María Huerta Mata

The article’s objective is to analyze the economic agency acquired by university students through the international remittances support network. During September and October 2019, five indepth interviews were conducted with female law students from the Actopan Higher School of the Autonomous University of the State of Hidalgo. Young women’s households receive remittances whose function is to help them economically, a network built through the family connection with their maternal uncles. The student’s mothers are sorors which allows young women to obtain economic agency. This analysis contributes to the knowledge about one of the effects of remittances on households in the Mezquital Valley, Mexico. The results of the study only focus on one region of the country.


Author(s):  
Bezon Kumar

This paper mainly focuses on the construction of a household welfare index to examine the welfare impact of international remittances in rural Bangladesh. This paper, in achieving this objective, uses primary data and several methods. This paper constructs a household welfare index newly to measure the level of household welfare. Besides, a linear regression and Chi-square test is used to examine the welfare and poverty impact of international remittances, respectively. Remittance receiving households enjoy the higher level of welfare more than non-recipient households in the study area. Household welfare is augmented by 0.116 if the household is under the shade of international remittances. A significant impact of international remittances on the reduction of household poverty is also found in this study. Therefore, this paper suggests policymakers for utilizing international remittances as a significant tool to enhance household welfare and to reduce household poverty.


2021 ◽  
pp. 019791832110114
Author(s):  
Sandra Ley ◽  
J. Eduardo Ibarra Olivo ◽  
Covadonga Meseguer

The resource mobilization theory has long emphasized the role of resources in facilitating collective mobilization. In turn, recent research on crime and insecurity in Mexico has drawn attention to the role of local networks of solidarity in facilitating mobilization against crime. We rely on these two literatures to propose that remittances — that is, the resources that emigrants send to their relatives left behind — deserve attention as international determinants of this type of non-violent anti-crime mobilization. Further, relying on recent research on remittances’ impact on political behavior, we hypothesize that the relationship between remittances and contentious action is non-linear, exhibiting a positive effect at low to moderate levels of inflows and declining at higher levels of remittances. We contend that at low to moderate levels, international remittances provide the necessary resources for collective activation. At greater levels of remittance inflows, however, lessened economic and security grievances imply a decline in the probability of protesting. Overall, we show that emigrant remittances matter for organizing protests against criminality at the subnational level but that they produce both an engagement and disengagement effect, depending on the size of the inflows.


2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Bosede Victoria Kudaisi ◽  
Titus Ayobami Ojeyinka ◽  
Tolulope Temilola Osinubi

PurposeInternational remittances are an important segment of external financial flows in Nigeria, currently superseding official development aid (ODA) in terms of volume, and foreign direct investment (FDI) in terms of stability. This study is motivated by the recent increase in remittance flows in Nigeria as the highest recipient in West Africa, and the fact that the growth impact of remittances is weak within the country. The financial liberalization index developed by Chinn and Ito (2006) is employed in this study to examine the role of financial liberalization in the remittances-growth nexus in Nigeria over the period 1990–2018.Design/methodology/approachTo address the possibility of endogeneity among the variables in the model, the study employs the generalized method of moments (GMM) as a technique of analysis.FindingsRemittances and financial liberalization are found to have negative significant impacts on economic growth. However, the effect of the interaction term of financial liberalization and remittances on economic growth is positive and significant. This suggests that the two variables act as complements in the enhancement of economic growth in Nigeria. The study thus concludes that financial liberalization is a strong transmission channel through which remittance inflows positively affect economic growth in Nigeria. The study also advocates for a well-developed financial sector in order to attract more growth-enhancing remittances into the country.Research limitations/implicationsThe implication of the research findings is that an unrestrained financial sector is necessary to encourage and optimize the benefits of remittance flows on economic growth in Nigeria.Originality/valuePrevious studies have considered the effects of financial development on the remittances-growth nexus in Nigeria. However, this study examines the role of financial liberalization in the nexus between remittances and economic growth in Nigeria by using the Chinn and Ito (2008) index of financial openness.


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