It has become a commonplace observation that remittances - financial
transfers by migrants to their country of origin - between the developed
and developing world are larger than aid transfers. It is also often
noted that the sums remitted through formal channels represent only a
fraction of total remittances: a large though unknown amount of funds
finds its way to families in migrants' areas of origin through informal
changes. This study offers a synthesis of what is known about informal
remittances to African, Caribbean and Pacific countries, and their
influence on development in those countries.
This synthesis report begins with a summary and introduction, and then
chatpers as follows: African-Caribbean-Pacific migration and
remittances, formal and informal remittance systems, principles of value
transfer and hawala, a typology of informal remittance systems,
regulations, informal remittance systems and development, and finally,
conclusions and recommendations.
Synthesis study. A part of the report on Informal Remittance Systems in Africa, Caribbean and Pacific (ACP) countries, ESRC Centre on Migration, Policy and Society (COMPAS), Oxford, UK, i + 44 pp.
Synthesis study. A part of the report on Informal Remittance Systems in Africa, Caribbean and Pacific (ACP) countries.