eBook

The Canada-Caribbean remittance corridor : fostering formal remittances to Haiti and Jamaica through effective regulation

Todoroki, Emiko, Vaccani, Matteo, Noor, Wameek

2009

Overview

Several economies in the Caribbean region, especially from the lower income group, are highly dependent on remittances. Between 1991 and 2006, the combined flows of total remittances reaching the Caribbean have seen almost a 17% average annual growth rate, surpassing USD 6billion in 2005 and overtaking ODA and FDI into the region. In addition, remittances represent more than 20% of the domestic gross domestic product (GDP) in some Caribbean countries and have played a significant role in lessening both balance of payment deficits and the impact of natural disasters to which the region is particularly vulnerable. Given the importance of such remittance flows, this study undertakes an analysis of the various dynamics underlying the Canada-Caribbean remittance corridor, including Caribbean migration issues, remittance market landscapes and regulatory frameworks. This study is intended to assist Canadian and Caribbean national authorities in their mandate of providing incentives for the continued growth and competitiveness of their remittance industries, while protecting remittance markets from being abused by criminals.

• Publisher: World Bank,World Bank Publications,The World Bank
• Subject: ADULT POPULATION / ALLEVIATION OF POVERTY / ALTERNATIVE REMITTANCE SYSTEM / ANTI-MONEY LAUNDERING / ASSISTANCE ORGANIZATION / BALANCE OF PAYMENT / BALANCE OF PAYMENTS / BANK TRANSFER / BANKING INDUSTRY / BANKS / BASIC INFRASTRUCTURE / BRAIN DRAIN / BUSINESS & ECONOMICS / Canada / CAPITA INCOME / CAPITA REMITTANCES / CASH TRANSFERS / CHOICES OF CHANNELS / CHRONIC UNEMPLOYMENT / CITIZENSHIP / COMMERCIAL BANK / COMPENSATION OF EMPLOYEES / COOPERATIVE CREDIT / COUNTRIES OF ORIGIN / COUNTRY OF ORIGIN / CREDIT UNION / CREDIT UNIONS / DEPOSIT / DEVELOPING COUNTRIES / DEVELOPMENTAL IMPACT / DIASPORA / DIASPORA COMMUNITIES / DISSEMINATION / DRUG TRAFFICKING / ECONOMIC COOPERATION / ECONOMIC GROWTH / ECONOMIC INDICATORS / ECONOMIC TRENDS / EDUCATED MIGRANTS / ELECTRONIC FUNDS / EMIGRATION / ETHNIC GROUPS / EXCHANGE RATE / EXCHANGE RATES / EXPATRIATES / EXPENDITURE / FAMILIES / FINANCES / FINANCIAL FLOWS / FINANCIAL INSTITUTIONS / FINANCIAL MARKET / FINANCIAL REGULATION / FINANCIAL SERVICES / FOREIGN DIRECT INVESTMENT / FOREIGN DIRECT INVESTMENTS / FOREIGN EXCHANGE / FOREIGN WORKERS / Foreign workers -- Legal status, laws, etc. -- Canada / Foreign workers, Haitian / Foreign workers, Haitian -- Canada / Foreign workers, Jamaican / Foreign workers, Jamaican -- Canada / FORMAL REMITTANCES / FORMAL TRANSFER SYSTEMS / GENDER / GLOBAL POPULATION / GLOBAL REMITTANCE / GLOBAL REMITTANCES / GROSS DOMESTIC PRODUCT / GROSS NATIONAL INCOME / GROWTH OF REMITTANCES / Haiti / HIGH-FREQUENCY TRANSACTIONS / HOME COUNTRIES / HOST COUNTRIES / HOST COUNTRY / HOUSEHOLD LEVEL / HOUSEHOLDS / HUMAN CAPITAL / HUMAN DEVELOPMENT / ILLEGAL IMMIGRANTS / IMMIGRANT / IMMIGRATION / IMMIGRATION POLICY / IMMIGRATION RESTRICTIONS / IMPACT OF REMITTANCES / IMPORTANCE OF REMITTANCES / INCOME INEQUALITY / INCOMES / INFORMAL CHANNELS / INFORMAL FLOWS / INFORMAL REMITTANCE / INFORMAL TRANSFERS / INFORMATION TECHNOLOGY / INTERNATIONAL BANK / INTERNATIONAL MIGRATION / INTERNATIONAL REMITTANCE / Jamaica / Jamaika / Kanada / KINSHIP / LABOR MARKET / LEGAL STATUS / Legal status, laws, etc / LIVING CONDITIONS / LOCAL ECONOMY / MERCHANT / MFI / MICROFINANCE / MICROFINANCE INSTITUTION / MIGRANT / MIGRANT DIASPORA / MIGRANT FLOWS / MIGRANT OUTFLOWS / MIGRANT REMITTANCES / Migrant remittances -- Canada / Migrant remittances -- Haiti / Migrant remittances -- Jamaica / MIGRANT WORKERS / MIGRATION / MIGRATION DATA / MIGRATION FLOWS / MIGRATION PATTERNS / MONEY LAUNDERING / MONEY ORDERS / MONEY TRANSFER / MONEY TRANSFER COMPANY / MONEY TRANSFER OPERATOR / MONEY TRANSFER OPERATORS / MONEY TRANSFERS / MULTINATIONAL / NATIONAL AUTHORITIES / NATIONALS / NATURAL DISASTERS / NURSE / OFFICIAL DEVELOPMENT ASSISTANCE / PAYMENT OF EMPLOYEES / PAYMENT SERVICE / PERMANENT RESIDENT / PERMANENT RESIDENTS / POLICY DECISIONS / POLITICAL INSTABILITY / POPULATION GROWTH / POPULATION PROJECTIONS / POPULATION SIZE / POVERTY ALLEVIATION / POVERTY REDUCTION / PROGRESS / PROVISION OF SERVICES / PULL FACTOR / PULL FACTORS / PURCHASING POWER / PURCHASING POWER PARITY / PUSH FACTOR / PUSH FACTORS / RECENT IMMIGRANTS / REGULATORY FRAMEWORK / REGULATORY FRAMEWORKS / REGULATORY REGIME / REMITTANCE / REMITTANCE BUSINESS / REMITTANCE CHANNELS / REMITTANCE COMPANIES / REMITTANCE CORRIDOR / REMITTANCE CORRIDORS / REMITTANCE DATA / REMITTANCE FLOW / REMITTANCE FLOWS / REMITTANCE INFLOWS / REMITTANCE MARKET / REMITTANCE OUTFLOWS / REMITTANCE RECEIVING / REMITTANCE RECEIVING COUNTRIES / REMITTANCE RECIPIENTS / REMITTANCE SENDER / REMITTANCE SENDERS / REMITTANCE SENDING / REMITTANCE SERVICE / REMITTANCE SERVICE PROVIDERS / REMITTANCE SERVICES / REMITTANCE SYSTEMS / REMITTANCE TRANSACTION / REMITTANCE TRANSACTIONS / REMITTANCE TRANSFER / REMITTANCE TRANSFERS / REMITTANCES / REMITTERS / RETURNEES / ROLE OF REMITTANCES / Rücküberweisungen / SECURITY SITUATION / SEND MONEY / SEND MONEY HOME / SERVICE PROVIDER / SERVICE PROVIDERS / SKILLED MIGRANTS / SKILLED MIGRATION / SKILLED WORKERS / SOCIAL AFFAIRS / SOCIAL FACTORS / SPECIFIC INCENTIVES / TEMPORARY WORKERS / TERRORIST / TRADE IMBALANCES / TRANSFER CHANNELS / TRANSFER COSTS / TRANSFER FEE / TRANSFER FEES / TRANSFER PRODUCTS / TRANSFER SERVICES / TRANSFER SYSTEMS / UNDOCUMENTED MIGRANTS / UNEMPLOYMENT / UNEMPLOYMENT RATES / UNION / UNIONS / URBAN AREAS / VALUE CARD / VULNERABILITY / WAR / WIRE TRANSFER / WIRE TRANSFERS / WORKING POPULATION / WORLD POPULATION
• ISBN: 0821379194, 9780821379196, 0821379232, 9780821379233