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The Korean “Goose Family” Phenomena: Educational Migrants
Travelling thousands of miles to attend university in a more developed country is nothing new: China and India combined sent over 260,000 students to the United States in 2011, making up a staggering...
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Philippines Economic Growth: Harbinger of Hope or Symptom of Illness?
Last week, the Asian Development Bank raised its 2012 Philippines GDP forecast to 5.5%, an especially notable feat considering it cut most of its estimates for the rest of Asia including powerhouses...
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Building BRICS of Foreign Aid: Newest Member of the Club
South Africa: To BRIC or not to BRIC? The term “BRIC” was first coined by Goldman Sachs economist Jim O’Neill in reference to the group of emerging economies that O’Neill thought had the potential to...
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Remittances to Africa Squeezed by High Transaction Costs
It’s undeniable that the money sent from the African diaspora to their families on the world’s most impoverished continent contributes significantly to Africa’s battle with poverty. African diaspora is...
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In Developing Asia, Flows of Remittances Blocked by the Great Wall of...
In developing countries, remittances play an integral role in poverty reduction efforts, as illustrated by two recent publications on migration and remittances. It is estimated that the flows of...
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Remittance Services in a Race Against Time and Barclays
Money-transfer services (MTS) are often the easiest way for people to send money abroad. A sender gives his money to a service either online or in a branch office, and is charged a small fee according...
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When All Else Falls, Remittances Rise
After the recent military ousting of president Morsi by the Egyptian military, the US has decided to put a cap on military aid to the tumultuous country. This is not the first time. Back in August, the...
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Bitcoins: A New Way to Send Money Home?
In order to send $200 from the United States to Kenya it costs around $15. To send to the Philippines $10. To send to the Dominican Republic $13. On average, sending remittances costs around 8.58%...
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Long Arm of the Taxman Reaches to the Diaspora
On a global scale, remittances are one of the most important financial flows to economic development. The World Bank has found that remittances have reached $414 billion globally, and expected to cross...
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Show Me the Money
Last month the Consumer Financial Protection Bureau (CFPB) proposed a revision to its Remittance Transfer Rule that would bring any private or public company conducting more than one million yearly...
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The Economics of Migration
In the current debate surrounding refugee migration, most people seem to fall into one of two camps: those who favor hosting refugees, and those who oppose it. But many seem to have forgotten that...
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Wave of Remittances Riding the Political Tide into Cuba
“The culmination of years of talks resulted in this handshake between the President and Cuban President Raúl Castro during the Summit of the Americas in Panama City, Panama.” (Official White House...
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