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You have to spend money to send money: An analysis of what drives the cost of remittances in Sweden
Uppsala University, Disciplinary Domain of Humanities and Social Sciences, Faculty of Social Sciences, Department of Economics.
Uppsala University, Disciplinary Domain of Humanities and Social Sciences, Faculty of Social Sciences, Department of Economics.
2016 (English)Independent thesis Basic level (degree of Bachelor), 10 credits / 15 HE creditsStudent thesis
Abstract [en]

The global average cost of remitting money abroad in December 2015 was 7.4% of the amount sent, while it was 13% in Sweden (World Bank, 2016a). Using newly available data from Money From Sweden, this exploratory study aims to find what factors determine the costs of remitting money from Sweden. Previous studies find that large amounts of money sent and greater competition drives costs down, and that higher bank participation in the market for money transfers correlates with higher costs (Beck & Peria, 2011). Our results are in line with previous studies, pointing in particular to the aforementioned factors, and also, a new finding that the employment rate of the money-sending migrants has a significant negative effect on the cost of sending money from Sweden. Given the limitations of this study and the importance of the topic, this analysis deserves further attention. Further studies with additional control variables and possibly focusing on migrant-specific variables would be an interesting continuation in this field.

Place, publisher, year, edition, pages
2016.
Keyword [en]
Remittances, Cost, Sweden, Money From Sweden
National Category
Economics
Identifiers
URN: urn:nbn:se:uu:diva-299166OAI: oai:DiVA.org:uu-299166DiVA: diva2:949016
Supervisors
Examiners
Available from: 2016-07-15 Created: 2016-07-15 Last updated: 2016-07-15Bibliographically approved

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