Remittance Cost - AML and FTRI

The Remittance Prices Worldwide data is divided into two groups – Remittance Cost at the Sending Countries and Remittance Cost at the Receiving Countries. For each group there are two dependent variables. FTRI data is available for 147 countries over a 14-year period. Remittance Paid and Received is available for 200 countries spanning 63 years. AML data is available for a minimum of 110 countries in certain years, up to 162 countries, and for a maximum period of 11 years. Names of the countries in different databases or within a database over different years may be captured differently due to geo-political reasons. Clean-up of such names is done to identify the observation uniquely. For example, Republic of Korea is treated as South Korea, Russian Federation or Soviet Union is treated as Russia, Ivory Coast is treated as Côte d'Ivoire, Czcheia is treated as Zchec Republic, Siam is treated as Thailand, the United States of America is treated as the United States and Türkiye is treated as Turkey. Remittance prices data is treated as the base. The data file is split into two datasets by using the ‘Sending Country’ and ‘Receiving Country’ columns along with their respective remittance cost percentage value columns. For each data file, the observations where the “Transparent" value is 'No” are omitted. The data is organized in panel format in ascending years and sorted alphabetically by country as a second-level sorting. The observations are numbered, and a unique key is created by concatenating the year and the serial number. A secondary key is created by concatenating “Year” and “_Country Name”. In the Remittance Paid, Remittance Received, FTRI and AML Index data files, a key same as ‘Secondary key’ is created by concatenating “Year” and “_Country Name”. Using the common key, the data is joined in each ‘Sending Country’ and ‘Receiving Country’ data files. The combined data available for the study is from 2011 to 2023. Missing values are not imputed in the panel data.