The Banking Network as a Transmission Channel of Migrant Remittances: The Case of Greek and Italian Banks in Albania

Karafolas, Simeon; Sariannidis, Nikolaos

doi:10.1007/s11300-008-0036-z

Cited by 9 publications

(8 citation statements)

References 29 publications

Supporting

Mentioning

Contrasting

Order By: Relevance

“…Remittances present a continuous growth with the exception of 3 years, 1997, 1999 and 2005 (see Karafolas and Sariannidis 2009). Remittances result for the most part through the parallel market during the period 1994-2007 despite the bigger growth of remittances through the official market, especially after the pyramid chaos in 1997.…”

Section: Remittances Of Albanian Immigrantsmentioning

confidence: 99%

“…Nevertheless, there are still few studies focusing on this aspect. Karafolas and Sariannidis (2009) found that the development of the banking network of Greek and Italian banks in Albania favoured the growth of remittances of Albanian immigrants through the banking system. Karafolas (1995Karafolas ( , 1998 found that banks from Greece, Italy, Portugal and Spain created a banking network in countries where an immigrant population from those countries reside.…”

Section: Introductionmentioning

confidence: 99%

See 1 more Smart Citation

Choice of Money Transfer Methods in the Case of Albanian Immigrants in Greece

Karafolas

Konteos

2009

Transit Stud Rev

Self Cite

View full text Add to dashboard Cite

show abstract

Section: Remittances Of Albanian Immigrantsmentioning

confidence: 99%

Section: Introductionmentioning

confidence: 99%

Choice of Money Transfer Methods in the Case of Albanian Immigrants in Greece

Karafolas

Konteos

2009

Transit Stud Rev

Self Cite

View full text Add to dashboard Cite

show abstract

“…By contrast, the availability of native banks in the host country and policies introduced by governments or corporates to channel remittances, such as foreign currency accounts and special exchange or interest rates, favour the use of banking services (Russell, 1986;Karafolas and Sariannidis, 2009;Siegel (forthcoming)). In addition to institutional factors, evidence suggests that the use of formal channels decreases in line with the differences between official exchange rates and black market rates (e.g.…”

Section: Characteristics Of and Reasons To Use Particular Remittance mentioning

confidence: 99%

Migrants’ Choice of Remittance Channel: Do General Payment Habits Play a Role?

Kosse

Vermeulen

2014

World Development

View full text Add to dashboard Cite

Standard-Nutzungsbedingungen:Die Dokumente auf EconStor dürfen zu eigenen wissenschaftlichen Zwecken und zum Privatgebrauch gespeichert und kopiert werden.Sie dürfen die Dokumente nicht für öffentliche oder kommerzielle Zwecke vervielfältigen, öffentlich ausstellen, öffentlich zugänglich machen, vertreiben oder anderweitig nutzen.Sofern die Verfasser die Dokumente unter Open-Content-Lizenzen (insbesondere CC-Lizenzen) zur Verfügung gestellt haben sollten, gelten abweichend von diesen Nutzungsbedingungen die in der dort genannten Lizenz gewährten Nutzungsrechte. Retail payments at a crossroads: economics, strategies and future policies This paper was submitted and accepted for the bi-annual retail payments conference titled "Retail payments at a crossroads: economics, strategies and future policies" organised by the European Central Bank (ECB) and the Banque de France (BdF), on 21 and 22 October 2013 in Paris. The aim of the conference was to bring together academics, regulators and market participants to discuss possible developments and dynamics that will shape the future retail payments landscape. Terms of use: Documents in EconStor mayRetail payments provide a very important, yet not the most visible, infrastructure for the operation of the real economy. The way economic actors pay is not only important from a theoretical point of view but also from a policy perspective as the costs for providing payment services are substantial in most countries. As we are witnessing a transformation in these markets from traditional paper-based payment instruments towards electronic means of payments, the interaction between market forces and regulatory initiatives continues to be a determining factor for the future. This interaction, and the possible policy conclusions stemming from it, was the main theme of this conference.The selection and refereeing process of this paper has been carried out by the conference organisational team composed of experts from both organising institutions. As the conference was organised with a focus on the key issues above, papers were selected not only based on their standalone quality but also considering the relevance of the research subject to the themes of the event. Following the conference the selected papers have been asked to be revised according to the discussants assigned to the respective paper.The paper is released in order to make the working papers and accompanying research submitted to the conference publicly available. Non-technical summaryThis paper studies the determinants in migrants' choice of payment channel when sending money to relatives abroad. Migrant remittances are an important source of external finance for many countries.In 2012, globally-recorded remittance flows to developing countries reached USD 400 billion (World Bank, 2012). However, the actual amount of remittances sent is probably significantly larger, as a large but unknown share of remittances are transferred through unrecorded informal channels, such as money brought home on return and transfers throu...

show abstract

“…Hernández-Coss (2005a) finds that transfer costs along the USA-Mexico corridor depend primarily on the volume of remittances for a country pair and the amount of competition in the market for international transfers. In particular, the growing presence of Greek and Italian banks in Albania has increased the Albanian migrants' use of formal transfer channels in Greece and Italy (Karafolas and Sariannidis 2009). In particular, the growing presence of Greek and Italian banks in Albania has increased the Albanian migrants' use of formal transfer channels in Greece and Italy (Karafolas and Sariannidis 2009).…”

Section: Related Literaturementioning

confidence: 99%

“…Cooperation between or compatibility with the sending and receiving countries' financial sectors , the macroeconomic environment (for example dual exchange rates), political stability or instability and the strength or weakness of the banking system (Buencamino and Gorbunov 2002) also affect transfer costs. In particular, the growing presence of Greek and Italian banks in Albania has increased the Albanian migrants' use of formal transfer channels in Greece and Italy (Karafolas and Sariannidis 2009). Informal channels are often significantly cheaper than formal ones, particularly when informal transfers involve physical transport of cash and the sending and receiving country are geographically close Hernández-Coss et al 2008;Siegel et al 2009;Unger and Siegel 2006).…”

Section: Related Literaturementioning

confidence: 99%

Migrant transnationalism and the choice of transfer channels for remittances: the case of Moldova

Siegel

Lücke

2012

Global Networks

View full text Add to dashboard Cite

Migrant remittances, particularly when transferred through the banking system, may contribute to financial development in migrants' home countries. We analyse the determinants of the choice of transfer channel (formal services versus informal operators or personal transfers) by Moldovan migrants in 2006. We estimate a multinomial logit model from household survey data. Our explanatory variables include socio‐economic characteristics of the migrant and other household members, the pattern of migration (destination country, legal status, duration), and financial information (average amount and frequency of payments). Key reasons not to use a formal transfer channel are a migrant's emphasis on low transfer cost (rather than speed, convenience or security), irregular legal status in the host country, and short migration spells. Our findings demonstrate that migrants' transnational capacities and activities in their entirety bear upon the choice of transfer channel; any policy interventions to promote the use of formal channels should reflect this.

show abstract

The Banking Network as a Transmission Channel of Migrant Remittances: The Case of Greek and Italian Banks in Albania

Abstract: Albania, Bank, Greece, Italy, Migration, Remittances, F22, F24, G21,

Cited by 9 publications

References 29 publications

Choice of Money Transfer Methods in the Case of Albanian Immigrants in Greece

Choice of Money Transfer Methods in the Case of Albanian Immigrants in Greece

Migrants’ Choice of Remittance Channel: Do General Payment Habits Play a Role?

Migrant transnationalism and the choice of transfer channels for remittances: the case of Moldova

Contact Info

Product

Resources

About