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The Canada-Caribbean Remittance Corridor: Fostering Formal Remittances to Haiti and Jamaica Through Effective Regulation - , Matteo Vaccani

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Several economies in the Caribbean region, especially from the lower income group, are highly dependent on remittances. Between 1991 and 2006, the combined flows of total remittances reaching the Caribbean have seen almost a 17% average annual growth rate, surpassing USD 6billion in 2005 and overtaking ODA and FDI into the region. In addition, remittances represent more than 20% of the domestic gross domestic product (GDP) in some Caribbean countries and have played a significant role in lessening both balance of payment deficits and the impact of natural disasters to which the region is particularly vulnerable. Given the importance of such remittance flows, this study undertakes an analysis of the various dynamics underlying the Canada-Caribbean remittance corridor, including Caribbean migration issues, remittance market landscapes and regulatory frameworks. This study is intended to assist Canadian and Caribbean national authorities in their mandate of providing incentives for the continued growth and competitiveness of their remittance industries, while protecting remittance markets from being abused by criminals.

Author: Todoroki, Emiko
Author: Vaccani, Matteo
Author: Noor, Wameek
Publisher: World Bank Publications
Illustration: N
Language: ENG
Title: The Canada-Caribbean Remittance Corridor: Fostering Formal Remittances to Haiti and Jamaica Through Effective Regulation
Pages: 00000 (Encrypted PDF)
On Sale: 2009-04-30
SKU-13/ISBN: 9780821379196
Lib Category: Migrant remittances - Canada
Lib Category: Migrant remittances - Haiti
Category: Business & Economics : Finance
Category: Business & Economics : Development - Business Development


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