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10519 - Linking Migrants' Money and Microfinance for Financial Inclusion? Transnational Governance Initiatives and the Role of State and Non-State Actors in the US-Mexican Context

Remittances, the money that migrants send home to support their families, are one of the most tangible manifestations of transnational ties between spaces. Due to their extraordinary growth in the last decades, their development potential has been discussed intensely by policymakers and scholars alike. An emerging research field within this debate are the contributions of remittances to financial inclusion in the receiving countries and the therewith expected reduction of poverty and inequalities. The paper compares state and non-state initiatives that link remittances and microfinance in the US-Mexican context, the largest remittance corridor worldwide. The selected cases are Mexican microfinance networks – supported respectively by a state development bank, an NGO, and a financial cooperative – channelling migrant transfers in cooperation with US-remittance service providers. The central questions are in how far the initiatives may potentially contribute to financial inclusion via remittances and which role the state and non-state actors and their different rationales thereby play. In order to take into account the variety of actors and modes of interaction involved, the theoretical approach draws on governance as analytical perspective. Empirically, the analysis is based mainly on qualitative interviews with experts and stakeholders in the field. Outlining the role of the state vis-à-vis non-state actors in the light of new transnational challenges as well as the complementarities and conflicts of their interaction, the paper aims at contributing to the research on governance of migration and financial development, key aspects of globalization and Latin American development.

Palabras claves: migration, remittances, microfinance, governance, Mexico

Autores: Stiegler, Ursula (Freie Universität Berlin, Germany / Deutschland)

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