Hernández-Coss, Raúl2012-06-062012-06-062005978-0-8213-6087-3https://hdl.handle.net/10986/7322Examining the experience of the U.S.-Mexico remittances corridor over the last eight years, this title derives specific lessons that could be applicable to other remittance corridors when shifting from informal to formal systems. Lessons focuses on a few selected aspects of the remittance experience and breaks down the remittance process into three stages: the First Mile, when decisions are in the hands of the remittance sender; the Intermediary Stage, comprising the systems that facilitate the cross-border transfer of funds, and; the Last Mile, where the funds reach the hands of the remittance recipient. By analyzing the objectives, obstacles, incentives, and changes occurring at each of these stages in the U.S.-Mexico corridor, lessons are drawn for other remittance sending and receiving countries that seek to encourage formalization of the flows.en-USCC BY 3.0 IGOACCOUNTINGBANK ACCOUNTSBANKING INSTITUTIONSBANKING SYSTEMBANKSCENTRAL GOVERNMENTSCERTIFICATESCHECKINGCITIESCLEARANCECLEARING HOUSECOMMERCIAL BANKSCOMMUNITIESCONFIDENTIALITYCREDIT INSTITUTIONSCREDIT UNIONSCURRENT ACCOUNTDEPOSITSDEVELOPMENT FINANCEDEVELOPMENTDIRECT INVESTMENTEMPLOYMENTEXCHANGE RATESEXPENDITURESFAMILIESFEDERAL DEPOSIT INSURANCEFEDERAL DEPOSIT INSURANCE CORPORATIONFIELD RESEARCHFINANCE MINISTERSFINANCIAL ASSETSFINANCIAL EDUCATIONFINANCIAL MARKETFINANCIAL OPTIONSFINANCIAL PRACTICESFINANCIAL PRODUCTSFINANCIAL SECTORFINANCIAL SERVICESFINANCIAL SYSTEMFOREIGN ASSETSFOREIGN EXCHANGEFUNDS TRANSFERFUNDS TRANSFER SYSTEMSGLOBAL DEVELOPMENT FINANCEIMMIGRATIONINCOMEINFORMATION NEEDSINSURANCEINTEGRITYINTERMEDIARIESINTERNATIONAL FINANCIAL INSTITUTIONSJURISDICTIONJURISDICTIONSLAWSLEGAL SYSTEMSLESSONS LEARNEDMARKETINGMICROFINANCEMIGRANTSMONETARY AUTHORITIESMONEY LAUNDERINGMONEY ORDERSOFFSETTINGPARENTSPARTNERSHIPPOPULATION GROWTHPRIVATE SECTORPUBLIC POLICYREGULATORY ENVIRONMENTREGULATORY FRAMEWORKSAFETYSAVINGSSERVICE PROVIDERSSOCIETY FOR WORLDWIDE INTERBANK FINANCIAL TELECOMMUNICATIONSUBSIDIARYSWIFTTRANSPARENCYWORKERSWorld Bank10.1596/0-8213-6087-6