The Impact of Financial Literacy Training for Migrants at Destination
Lowering the cost of sending remittances has become a major goal of policy efforts in migration, and an area the World Bank has worked on across the globe. Two main channels for lowering these costs are regulatory reforms to promote competition and...
| Main Authors: | , , |
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| Language: | English en_US |
| Published: |
World Bank, Washington, DC
2013
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| Subjects: | |
| Online Access: | http://documents.worldbank.org/curated/en/2012/05/16579526/impact-financial-literacy-training-migrants-destination http://hdl.handle.net/10986/12415 |
| Summary: | Lowering the cost of sending remittances
has become a major goal of policy efforts in migration, and
an area the World Bank has worked on across the globe. Two
main channels for lowering these costs are regulatory
reforms to promote competition and the introduction of new
products; and efforts to increase the disclosure of costs of
remitting money through websites. However, the success of
such policies depends on the ability of migrants to
understand how to use the different methods available for
remitting, and on their understanding of the costs implied
by each method. Existing evidence suggests migrants often
lack knowledge in these areas, suggesting scope for
financial literacy efforts to change their behavior. |
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