Access to Banking Services and Money Transfers by Mexican Immigrants

Cynthia Bansak () and Amuedo-Dorantes, Catalina ()
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Cynthia Bansak: Department of Economics, San Diego State University
Amuedo-Dorantes, Catalina: Department of Economics, San Diego State University

No 3, Working Papers from San Diego State University, Department of Economics

Abstract: Increased access to the U.S. financial system through banks’ recognition of the ‘matrícula consular’ identification card may encourage Mexican immigrants to save and transfer more money home. Using data from the Mexican Migration Project, we examine whether immigrants with bank accounts in the U.S. between 1970 and 2002 sent more funds to Mexico than their unbanked counterparts. While having a U.S. bank account does not raise monthly remittances by Mexican immigrants, it boosts the amount brought back home by more than $6000 per trip. These findings suggest that increased usage of banks by immigrants may enhance future flows of funds to Mexico.

JEL-codes: F22 G21 J61 O15 (search for similar items in EconPapers)
New Economics Papers: this item is included in nep-fin, nep-fmk and nep-his
Date: 2004-10

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Persistent link: http://EconPapers.repec.org/RePEc:sds:wpaper:0003

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