The U.S.-Mexico Remittance Corridor

The book explores the developments that have taken place, as this market has shifted, and identifies areas within the corridor that could be further developed to enhance its development potential. The discussion of the remittance process is broken down into the three operational stages of remittances transactions: the First Mile, when decisions are in the hands of the remittance sender; the Intermediary Stage, comprising the systems that facilitate the 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, this book presents lessons for other remittance corridors seeking to achieve a comprehensive shift from informal to formal systems.