The Canada-Vietnam Remittance Corridor

by HERNANDEZ-COSS, RAUL

• ISBN13: 9780821361276
• ISBN10: 0821361279
• Format: Paperback
• Copyright: 2005-04-01
• Publisher: World Bank

Summary

In contrast to the large size and advanced level of development of the U.S.-Mexico remittances corridor, the Canada-Vietnam corridor is small in absolute terms and still at a nascent stage of shifting from informal to formal systems. For purposes of discussion, this book 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 Canada-Vietnam corridor, lessons are drawn for other remittance sending and receiving countries that seek to encourage formalization of the flows.

Table of Contents

Foreword	v
Acknowledgments	vii
Acronyms and Abbreviations	ix
Introduction	1	(8)
1. At the First Mile	9	(6)
2. At the Intermediary	15	(6)
3. At the Last Mile	21	(6)
4. Lessons from the Canada-Vietnam Remittance Corridor	27	(4)
5. Policy Recommendations	31	(4)
APPENDIXES
I. Operational Features of the Remittance Industry	35	(4)
II. Market Overview of the Canada-Vietnam Remittance Corridor	39	(6)
III. Canada Regulatory Overview	45	(6)
IV. Vietnam Regulatory Overview	51	(6)
V. Incentive Analysis for Canada-Vietnam Bilateral Case Study	57	(8)
Bibliography	65	(4)
Map of Circulation of Legitimate Money Flows between Canada and Vietnam	69