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Del telégrafo a la app: la evolución y el estado actual de los prestadores de remesas desde los Estados Unidos hasta México, ca. 1980-2020

Author

Listed:
  • Bátiz Lazo, Bernardo

    (Newcastle Business School and University of Northumbria)

  • González Correa, Ignacio

    (University of California, Davis)

Abstract

This paper offers the first approach to the evolution of the structure and the participants in the remittances market of the United States-Mexico corridor. We identify three different layers in the structure and specify the agents that involve clients, remittance providers, and correspondent banks from 1980 to 2020. We show the structural limitations of the market and suggest how the digital economy and financial technology (fintech) could help to reduce the average cost of cross-border payments. The potential benefits from fintech to the remittances market are especially relevant for Mexico since it has a high proportion of unbanked population. Furthermore, the reduction to 3% of the remittance fees has been defined as one of the United Nations’ 2030 Sustainable Development Goals. A better and deeper understanding of the characteristics of this market could help to achieve this goal.

Suggested Citation

  • Bátiz Lazo, Bernardo & González Correa, Ignacio, 2024. "Del telégrafo a la app: la evolución y el estado actual de los prestadores de remesas desde los Estados Unidos hasta México, ca. 1980-2020," El Trimestre Económico, Fondo de Cultura Económica, vol. 91(364), pages 925-970, octubre-d.
    • Handle: RePEc:elt:journl:v:91:y:2024:i:364:p:925-970
    DOI: https://doi.org/10.20430/ete.v91i364.2516
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    More about this item

    Keywords

    Remittances; financial technology; fintech; cross-border payments; Mexico; United States of America.;
    All these keywords.

    JEL classification:

    • F22 - International Economics - - International Factor Movements and International Business - - - International Migration
    • F24 - International Economics - - International Factor Movements and International Business - - - Remittances
    • G21 - Financial Economics - - Financial Institutions and Services - - - Banks; Other Depository Institutions; Micro Finance Institutions; Mortgages
    • M13 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Administration - - - New Firms; Startups
    • N16 - Economic History - - Macroeconomics and Monetary Economics; Industrial Structure; Growth; Fluctuations - - - Latin America; Caribbean
    • N26 - Economic History - - Financial Markets and Institutions - - - Latin America; Caribbean
    • O16 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Financial Markets; Saving and Capital Investment; Corporate Finance and Governance
    • O33 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Technological Change: Choices and Consequences; Diffusion Processes

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