Remittance Modality: Unpacking Canadian Money Transfer Mechanism Choices

Author:

MacIsaac Samuel1ORCID

Affiliation:

1. Carleton University, Ottawa, Canada

Abstract

Numerous international development targets aim to encourage and formalize remittances, because they can support development efforts while controlling and monitoring illicit capital flows. Despite continued efforts to promote formal remittance channels, informal remittances flourish among specific population groups. This study uses data from the Canadian Study on International Money Transfers to analyze the determinants of remittance modality or channel choice. Previous empirical work tends to classify remittances as either formal or informal. In contrast, this article considers a variety of channels. It shows that the dichotomization of formal versus informal remittances masks crucial differences across remittance channels. Due to Canada's unique geographical positionality, cash transfers operate distinctly from informal methods despite often being treated as a homogenous group in other studies. Interestingly, remitters are also more likely to use formal money transfer operators (most of which offer cash pickup options to recipients) than informal channels to send funds to countries with larger informal sectors. Within the context of Canadian remittance outflows, this invalidates the frequent assumption that more informal destination country economies push remitters to opt for informal transfer methods.

Funder

Social Sciences and Humanities Research Council of Canada

Publisher

SAGE Publications

Subject

Arts and Humanities (miscellaneous),Demography

Cited by 1 articles. 订阅此论文施引文献 订阅此论文施引文献,注册后可以免费订阅5篇论文的施引文献,订阅后可以查看论文全部施引文献

1. Digitalisation of Banking as a Catalyst for Inter-Country Money Transfers in Africa;Advances in IT Standards and Standardization Research;2024-02-23

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