Publication: The Impact of Financial Literacy Training for Migrants at Destination
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Date
2012-05
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2012-05
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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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“Gibson, John; McKenzie, David; Zia, Bilal. 2012. The Impact of Financial Literacy Training for Migrants at Destination. Finance & PSD Impact;no. 18. The
Lessons from DECRG-FP Impact Evaluations. © World Bank. http://hdl.handle.net/10986/12415 License: CC BY 3.0 IGO.”
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Training appears to increase financial knowledge and information-seeking behavior and reduces the risk of switching to costlier remittance products, but it does not result in significant changes in the frequency of remitting or in the remitted amount.Publication How Pro-Poor Is the Selection of Seasonal Migrant Workers from Tonga under New Zealand's Recognized Seasonal Employer Program?(World Bank, Washington, DC, 2008-08)Temporary migration programs for unskilled workers are increasingly being proposed as a way to both relieve labor shortages in developed countries and aid development in sending countries without entailing many of the costs associated with permanent migration. New Zealand's new Recognized Seasonal Employer program is designed to enable unskilled workers from the Pacific Islands to work in horticulture and viticulture in New Zealand for a period of up to seven months. 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