Remittances and the promise of financial democracy: critical reflections from the US-Mexico case

Authors

  • Matt Bakker Department of Sociology Marymount University

DOI:

https://doi.org/10.33182/rr.v1i1.443

Keywords:

remittances, financial democracy, neoliberal populism, Mexico, United States

Abstract

This article presents critical analysis of a recent "financial democracy" initiative carried out collaboratively between agencies of the Mexican and US governments.  The significant governmental work that officials put into the design of a low-cost remittance transfer service, marketing that service to banks and credit unions, and encouraging migrants to use it are described and analyzed.  Despite all this effort, the service has not been taken up by large numbers of migrants; different explanations for these dismal results are discussed.  The article concludes by emphasizing the value of the type of critical remittances research presented and suggesting a new critical research agenda.

Author Biography

Matt Bakker, Department of Sociology Marymount University

Matt Bakker is an Assistant Professor of Sociology at Marymount University.  He studies migrant political transnationalism, local immigration policy, and efforts to connect remittances to economic development in migrant communities both "here" and "there".

Published

2016-11-10

How to Cite

Bakker, M. (2016). Remittances and the promise of financial democracy: critical reflections from the US-Mexico case. Remittances Review, 1(1), 53-64. https://doi.org/10.33182/rr.v1i1.443

Issue

Section

Articles