Estimates and economic analysis of informal remittances for Pakistan

Mughal, Khurrum S.; Arby, Muhammad Farooq; Babar, Sakkhi; Ilyas, Saddam; Schneider, Friedrich

doi:10.1080/13547860.2021.1879350

Cited by 2 publications

(3 citation statements)

References 13 publications

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“…We test this assumption as follows. First, we show that before the pandemic there was a negative association between total (formal and informal) remittances and distance that was 50 percent higher than the negative association between formal remittances 5 Moreover, this paper contributes to recent policy analyses that support the relevance of digital technologies and financial inclusion in the post-pandemic era (Pandey et al, 2020;Ozili, 2020;Mughal et al, 2021). 6 World Bank (2020) predicted a 19.3 percent decline in remittances to Latin America and the Caribbean, where Mexico is the largest recipient.…”

Section: Remittances During Covid-19 and The Role Of Distancementioning

confidence: 66%

Neither by Land Nor by Sea: The Rise of Electronic Remittances during COVID-19

Dinarte-Diaz¹,

Jaume²,

Medina-Cortina³

et al. 2022

Policy Research Working Papers

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The Policy Research Working Paper Series disseminates the findings of work in progress to encourage the exchange of ideas about development issues. An objective of the series is to get the findings out quickly, even if the presentations are less than fully polished. The papers carry the names of the authors and should be cited accordingly. The findings, interpretations, and conclusions expressed in this paper are entirely those of the authors. They do not necessarily represent the views of the International Bank for Reconstruction and Development/World Bank and its affiliated organizations, or those of the Executive Directors of the World Bank or the governments they represent.

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Section: Remittances During Covid-19 and The Role Of Distancementioning

confidence: 66%

Neither by Land Nor by Sea: The Rise of Electronic Remittances during COVID-19

Dinarte-Diaz¹,

Jaume²,

Medina-Cortina³

et al. 2022

Policy Research Working Papers

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“…Hawala networks (HN [1]) are small-networked trading entities used for transferring money from one location to another and mostly operating outside the conventional banking system [2] (FATF, 2005; Rahimi, 2021). HN economy consists of clusters of spatially dispersed actors, hawaladars [3], with no specific center (Mughal et al , 2021). These informal value transfer networks (IVTNs) are trading structures that are mostly anchored in cultural, social and religious fabric (Ichwan and Kasri, 2019).…”

Section: Introductionmentioning

confidence: 99%

“…For HN, operating in a legally opaque environment, protection and security in the form of watertight exchanges that are impervious to opportunism is a requirement (Mughal et al , 2021). Any breach of trust leads to losses that are mostly irrecoverable and highly damaging in tarnishing the reputation of these hidden value transfer networks (Endo and Afram, 2011).…”

Section: Introductionmentioning

confidence: 99%

Evolution of trust in hawala networks – business relationships analysis from inception to maturity

Sharif

Faisal

Kassim

et al. 2022

IMEFM

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Purpose Trust within hawala networks (HN) (a type of deeply embedded informal value transfer network) has been associated with minimal bureaucracy, relationship versatility and low operational costs. In the absence of formal governance structures, HN business relationships largely depend on trust as a control mechanism that brings operational efficiency and transactional effectiveness. However, a basic and a static view of HN business trust has been reported. This paper aims to track the progress and development of trust within HN. More specifically, this paper charts HN relationship trust transformation from inception to maturity. Social exchange theory (SET) and Dwyer et al. (1987) topology of formal business relationship development were used as conceptual frameworks to study development of trust within HN. Design/methodology/approach Twenty-five in-depth interviews were conducted with HN members in the South Asia region. Chain referral sampling was used to contact and recruit suitable respondents within the semiscattered HN. The data were collected from practicing and retired HN members from Qatar, Saudi Arabia and Pakistan. The data were analyzed using keyword categorization and further substantiated, and validated, by NVivo analysis. Findings Four types of trust (i.e. calculative, verifiable, reciprocal and earned) were identified in HN relationships. It was revealed that trust progressed in a stepwise fashion from calculative trust (basic trust form) to earned trust (ultimate trust form). SET explained the progression of trust in terms of key drivers of different trust types at various stages of HN exchanges and relationships. In addition, it was observed that HN trust development followed Dwyer et al. (1987) topology of business relationship development. Originality/value This study extended the oversimplistic treatment of trust within HN by looking into its different types and its transformation over time. More specifically, this research provided an insight into how various types of trust were used within deeply embedded informal business networks to maintain and nurture business exchanges.

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Estimates and economic analysis of informal remittances for Pakistan

Cited by 2 publications

References 13 publications

Neither by Land Nor by Sea: The Rise of Electronic Remittances during COVID-19

Neither by Land Nor by Sea: The Rise of Electronic Remittances during COVID-19

Evolution of trust in hawala networks – business relationships analysis from inception to maturity

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