Immigrants and Their International Money Flows 2007
DOI: 10.17848/9781429492072.ch6 View full text |Buy / Rent full text
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“…Although the empirical results reported in this paper relate only to the New Zealand-Tonga remittance corridor, estimates reported by McKenzie (2007) suggest that transaction costs for remittances from Australia to Fiji, Samoa, Tonga and Vanuatu are at least as high as for those from New Zealand to Tonga. Moreover, transaction costs for sending money from the United States to Tonga are higher than for sending it from New Zealand.…”
Section: Discussionmentioning
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“…Although the empirical results reported in this paper relate only to the New Zealand-Tonga remittance corridor, estimates reported by McKenzie (2007) suggest that transaction costs for remittances from Australia to Fiji, Samoa, Tonga and Vanuatu are at least as high as for those from New Zealand to Tonga. Moreover, transaction costs for sending money from the United States to Tonga are higher than for sending it from New Zealand.…”
Section: Discussionmentioning
“…These remittances have risen rapidly and now exceed the amount of money that developing countries receive as foreign aid (Ratha, 2003). They are especially important for small island developing countries, which have an average of 17 per cent of their population working overseas (Mckenzie, 2007). 1 In Polynesian countries, such as Tonga and Samoa, emigration is even higher, with typically over one quarter of the population overseas (similar to the Caribbean).…”
Section: Introductionmentioning
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“…6 This was the context of our study, which examined remittance costs in the Pacific in the mid-2000s. We found that the cost of sending money from New Zealand or Australia to several Pacific Islands was in the range of 15 -20 percent on a typical NZ$200 7 transaction (Gibson et al, 2006(Gibson et al, , 2007McKenzie 2007). This research revealed that although average costs were high, lower cost possibilities were available that were not being used and that few migrants were aware of, such as the use of debit cards to make ATM withdrawals.…”
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“… 15. McKenzie (2006) reports that 13.5% of Fiji's population is living abroad and most of them are skilled workers.…”
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