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    The Price of Remittances: Do High Transaction Costs Depress Transfers?

    Cover for The Price of Remittances: Do High Transaction Costs Depress Transfers?
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    View/Open: Burkholder_georgetown_0076M_14246.pdf (1.5MB) Bookview

    Creator
    Burkholder, Kyle
    Advisor
    Thomas, Adam
    ORCID
    0000-0003-0764-7686
    Abstract
    The costs of sending international remittances are high, and the international community has committed to the reduction of remittance prices via targets set by the United Nation’s Sustainable Development Goals (SDGs) and the G8. However, the precise effect of prices on remittance amounts is under-researched. This paper attempts to fill that gap in the literature by analyzing the relationship between remittance prices (i.e., transaction costs) and amounts remitted, using aggregate-level data on bilateral remittances across 47 country corridors. This study finds evidence that remitters are sensitive to prices but that the demand for remittances is likely not highly elastic, with a smaller relationship between prices and amounts remitted than posited by the sparse existing literature. Nevertheless, the results imply that price reductions commensurate with the targets set by the SDGs would generate a substantial increase in remittances sent to developing countries. Efforts to reach these international targets are typically justified by citing the expected savings to senders without accounting for benefits to recipients from potentially increased remittance volumes. These results can be used to better inform policymakers’ understanding of the expected social returns from reduced remittance prices.
    Description
    M.P.P.
    Permanent Link
    http://hdl.handle.net/10822/1055089
    Date Published
    2019
    Subject
    Elasticity; Migrant; Remittance; Remittances; Remitter; Transaction cost; Public policy; Finance; Economics; Public policy; Finance; Economics;
    Type
    thesis
    Embargo Lift Date
    2021-07-05
    Publisher
    Georgetown University
    Extent
    68 leaves
    Collections
    • Graduate Theses and Dissertations - Public Policy
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    Georgetown University Seal
    ©2009 - 2022 Georgetown University Library
    37th & O Streets NW
    Washington DC 20057-1174
    202.687.7385
    digitalscholarship@georgetown.edu
    Accessibility