Gibson, JohnMcKenzie, DavidZia, Bilal2012-06-292012-06-292012-05https://hdl.handle.net/10986/9348Remittances are a major source of external finance for many developing countries but the cost of sending remittances remains high for many migration corridors. International efforts to lower costs by facilitating the entry of new financial products and new cost comparison information sources rely heavily on the financial literacy of migrants. This paper presents the results of a randomized experiment designed to measure the impact of providing financial literacy training to migrants. Training appears to increase financial knowledge and information seeking behavior and reduce the risk of switching to costlier remittance products. But it does not change either the frequency or level of remittances.CC BY 3.0 IGOACCOUNTINGADVERTISEMENTSANNUAL INCOMEANNUAL PERCENTAGE RATEANNUAL SAVINGANTI-MONEY LAUNDERINGANTI-MONEY LAUNDERING REGULATIONSAPRATMATM CARDATM CARDSATM WITHDRAWALSATTENDANCE RATEBANK TRANSFERBANKING SERVICESBANKSBIASESBORROWINGBRAIN DRAINBUDGETINGBULLETINCASH ADVANCECIVIL CONFLICTCOMMUNITY CENTERSCOMMUNITY GROUPSCOMPOUND INTERESTCONSUMERCONSUMER PROTECTIONCONTRIBUTIONCOSTS OF REMITTANCESCREDIT CARDCREDIT CARDSCULTURAL CHANGEDEBIT CARDDEBIT CARDSDEBTDEBT MANAGEMENTDEVELOPING COUNTRIESDEVELOPMENT POLICYDIRECT DEBITDISSEMINATIONECONOMIC DEVELOPMENTECONOMIC IMPLICATIONSEDUCATION LEVELEMIGRATIONEQUALITYETHICSETHNIC GROUPEXCHANGE RATEEXTENDED FAMILIESEXTENDED FAMILYEXTERNAL FINANCEFAMILIESFAMILY MEMBERSFAMILY REUNIFICATIONFINANCE COMPANIESFINANCIAL ACCESSFINANCIAL ACTIONSFINANCIAL BEHAVIORFINANCIAL EDUCATIONFINANCIAL EDUCATION PROGRAMFINANCIAL INFORMATIONFINANCIAL INSTITUTIONSFINANCIAL INSTRUMENTSFINANCIAL KNOWLEDGEFINANCIAL LITERACYFINANCIAL LITERACY EFFORTSFINANCIAL LITERACY TRAININGFINANCIAL MANAGEMENTFINANCIAL MATTERSFINANCIAL PRODUCTSFINANCIAL PROVIDERFINANCIAL SECTORFINANCIAL SYSTEMFIRST LANGUAGEFORM OF CREDITFORMAL TRANSFER SYSTEMSFORMS OF CREDITGLOBAL DEVELOPMENTHEALTH PROBLEMSHIGHER EDUCATIONHIGHER EDUCATION LEVELSHOME COUNTRIESHOME COUNTRYHOUSEHOLD INVESTMENTHOUSEHOLDSIMMIGRANTIMMIGRANTSIMMIGRATIONINCOMEINCOMESINFORMATION ON CREDITINFORMED CONSUMERSINTEREST COSTINTEREST RATEINTEREST RATESINTERNATIONAL BANKINTERNATIONAL EFFORTSINTERNATIONAL MIGRATIONLACK OF AWARENESSLEARNINGLITERACY COURSELITERACY LEVELSLITERACY RATESLOW COSTLOW COSTSLOW-INCOMELOW-INCOME CUSTOMERSMEDIA COVERAGEMICROFINANCEMIGRANTMIGRANT GROUPSMIGRANT POPULATIONSMIGRANTSMINIMUM PAYMENTMONEY TRANSFERMONEY TRANSFER OPERATORMONEY TRANSFER OPERATORSMONEY TRANSFERSMONTHLY EXPENSESPAYDAY LENDERSPAYDAY LOANPAYDAY LOANSPOLICY DISCUSSIONSPOLICY RESEARCHPOLICY RESEARCH WORKING PAPERPOPULATION GROUPSPOST OFFICESQUESTIONNAIREQUESTIONNAIRESRATE OF INTERESTREFUGEEREMITTANCEREMITTANCE AMOUNTREMITTANCE CHANNELSREMITTANCE CORRIDORREMITTANCE CORRIDORSREMITTANCE COSTSREMITTANCE FLOWSREMITTANCE PRODUCTREMITTANCE PRODUCTSREMITTANCE RECEIVERSREMITTANCE SERVICESREMITTANCE TRANSACTIONREMITTANCE TRANSACTIONSREMITTANCE TRANSFERREMITTANCE TRANSFERSREMITTANCESREMITTERSREPAYMENTSAVINGSSAVINGS ACCOUNTSSCHOOLINGSEASONAL MIGRANTSSEND MONEYSEND REMITTANCESSOURCE OF INFORMATIONSOURCES OF CREDITTEACHINGTERM CREDITTRAINING COURSETRAINING SESSIONTRANSACTIONTRANSACTION COSTSTRANSACTIONS COSTSTRANSFER COSTSTRANSFER FEESTRANSFER METHODUNIONUNIVERSITY EDUCATIONURBAN AREAURBAN AREASVOLUME OF TRANSFERSWAGEWorld Bank10.1596/1813-9450-6073