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Migrating into Financial Markets

Migrating into Financial Markets: How Remittances Became a Development Tool OPEN ACCESS

Matt Bakker
Copyright Date: 2015
Stable URL: http://www.jstor.org/stable/10.1525/j.ctt1ffjncm
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  • Book Info
    Migrating into Financial Markets
    Book Description:

    We understand very little about the billions of dollars that flow throughout the world from migrants back to their home countries. In this rigorous and illuminating work, Matt Bakker, an economic sociologist, examines how these migrant remittances the resources of some of the world's least affluent people have come to be seen in recent years as a fundamental contributor to development in the migrant-sending states of the Global South. This book analyzes how the connection between remittances and development was forged through the concrete political and intellectual practices of policy entrepreneurs within a variety of institutional settings, from national government agencies and international development organizations to nongovernmental policy foundations and think tanks.

    eISBN: 978-0-520-96093-0
    Subjects: Business
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Table of Contents

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  1. PART 1. THE REMITTANCES-TO-DEVELOPMENT AGENDA AT THE GLOBAL SCALE
  2. PART 2. THE LONG ROAD TO FINANCIAL DEMOCRACY IN NORTH AMERICA:: FROM STATE-LED TRANSNATIONALISM TO INTERGOVERNMENTAL COLLABORATION
    • This second part of the book shifts from the discursive production of remittances as a development tool at the global scale to examine the R-2-D agenda as it hits the ground in particular migration-sending and receiving regions. The focus here is on the ways that the R-2-D agenda came into being in North America. This particular regional focus is instructive for a number of reasons. First and foremost this is because of the importance of Mexican migration to the United States, as this is one of the largest and most sustained cases of international migration in the contemporary period. In...

    • This chapter centers attention on the cross-border collaboration of U.S. and Mexican government agencies working to implement specific policies to turn the promise of the remittances-todevelopment (R-2-D) agenda into reality. The chapter focuses on the design, implementation, and marketing of “Directo a México,” the brand name given to a financial mechanism created by the Federal Reserve Banks and Banco de México that offers financial institutions in both countries the opportunity to provide low-cost remittance-transfer services.

      The core focus of the chapter is on the governmental work, including both policy design and diffusion and subject-formation work, carried out by the central...

    • The main question addressed byMigrating into Financial Marketsis how migrant remittances—the resources of some of the world’s least affluent inhabitants—became a development tool around the turn of the new millennium. I have shown how this discursive construction and the policies emanating from it originated in the work of remittances experts and policy entrepreneurs within a handful of international institutions dedicated to the design, application, and spread of a market-based model of development. Given this discursive model’s resonance with the neoliberal ideology widely shared among policymakers the world over, these experts and policy entrepreneurs had little trouble...

Creative Commons Attribution 4.0 International
This book is licensed under a Creative Commons Attribution 4.0 International.