Cost of Sending Remittances from the UK in the Aftermath of the Financial Crisis
Cost of Sending Remittances from the UK in the Aftermath of the Financial Crisis
Author(s): Ibrahim Sirkeci, Andrej PřívaraSubject(s): Geography, Regional studies, National Economy, Labor relations, Economic policy, Nationalism Studies, Socio-Economic Research
Published by: Transnational Press London
Keywords: cost of remittances; United Kingdom; developing countries; money transfer operators;
Summary/Abstract: Reducing cost of sending remittances is a sustainable development goal, and the World Bank is coordinating an effort to reduce remittance costs. Remittances remained resilient during the financial crisis overall and have since risen. The cost of sending remittances from the United Kingdom, a major remittances source country, to a selected group of 10 developing countries finds uneven trends in the cost of sending small sums over borders, suggesting the need for more targeted and coordinated policies towards decreasing the remittance prices. In these corridors, major money transfer operators seemingly have trailed small operators in reducing the costs.
Journal: Remittances Review
- Issue Year: 2/2017
- Issue No: 1
- Page Range: 47-56
- Page Count: 10
- Language: English