Using bilateral data on remittance flows to Pakistan for 23 major host countries, this is the first study that examines the effect of transaction costs on foreign remittances. The authors find that the effect of transaction costs on remittance flows is negative and significant; suggesting that a...

In view of increasing worldwide economic integration, effective multinational agreements are urgently needed to improve the functionality, efficiency and stability of international financial operations. This article confronts theoretical characteristics of a desirable global financial concept...

Integrated services of financial institutions contribute to the quality and development of financial markets. The collaboration of banks and insurance companies through the bancassurance model, as the distribution channel of insurance products, results in reduction of business risk and costs of...

This paper examines the determinants of perceived and actual knowledge of commission paid by contributors in the Chilean pension funds industry. Results show that price consciousness and brand credibility are positively associated with perceived and actual knowledge of commission paid by pension...

The world economy has been recently upside–downed by the Global Financial Crisis. However, the effects have been extremely different from one country to another and from one economic sector to another. Starting from the economic assumptions formulated in the field’s literature, the article...

In the financial market of insurance, consumer protection represents an important component contributing to the stability, discipline and efficiency of the market. In this respect, the activity of educating and informing insurance consumers on ensuring and exercising their right to claim plays a...

This paper investigates the role of consumer credit growth and expansion of consumer financial services on the reduction of informal employment in a developing country. I argue that financial services growth should lead to a decline in the share of informal employment given that consumers whose...

Previous literature supports the view that the financial inclusion leads to economic growth and helps alleviate poverty; however, it is still unclear whether financial inclusion increases bank profitability. The study assumes that financial inclusion is significant in enhancing the economy and...

The financial services sector, particularly with respect to today's banking industry, is aiming to make a digital transition. Sustainable reporting is a holistic new reporting approach in banking and has only become partially mandatory for the sector. Thus, this paper makes a contribution to the...

The economic crisis triggered by the COVID-19 outbreak has severely affected the global economy. The ultimate scale of the recession is yet to be determined, but it is likely to be the most dramatic slump sinceWorldWar II. The impact of the crisis on the financial sector, especially consumer...