Sri Lanka's Remittance Economy

Sri Lanka's Remittance Economy
Author: Matt Withers
Publisher: Routledge
Total Pages: 0
Release: 2022-08
Genre: Economic development
ISBN: 9781032401508

This book demonstrates how cumulatively causal processes at structural, institutional and agency levels have forged a precariously remittance-dependent economy in Sri Lanka.

Sri Lanka's Migrant Labor Remittances

Sri Lanka's Migrant Labor Remittances
Author: Esperanza Lasagabaster
Publisher: World Bank Publications
Total Pages: 30
Release: 2005
Genre: Emigrant remittances
ISBN:

Remittances - money sent home by immigrant workers abroad - are hugely beneficial to Sri Lanka. Migrants' remittances have grown dramatically in recent years and are now estimated at US$1.5 billion annually. This national phenomenon is consistent with remittance trends in neighboring countries where remittance flows are growing as rapidly. The trend is likely to continue as many workers continue to look abroad for the chance to make a better living. The economic policy implications of these trends are significant. The Sri Lankan Central Bank is now debating the following key issues: the developmental impact of remittances; the high transaction costs associated with remittances; and the level of transparency and accountability in the remittance industry, especially the informal remittance sector. This paper highlights the key policy issues associated with each of these aspects of remittances with the objective of improving the public and private infrastructure for current and future flows. Building on recent World Bank research on remittances that prominently features South Asia, it has been prepared in recognition of the development potential of these flows. It discusses some of the key issues relating to the remittance industry in Sri Lanka. This paper complements the existing literature on migrant labor remittances to Sri Lanka and extends that literature by providing specific policy-relevant guidance on short and long-term policies for enhance enhancing the quality and outreach of rural remittance infrastructure.

Migration and Remittances Factbook 2016

Migration and Remittances Factbook 2016
Author: Dilip Ratha
Publisher: World Bank Publications
Total Pages: 299
Release: 2016-04-08
Genre: Business & Economics
ISBN: 146480320X

Remittances remain a key source of funds for developing countries, far exceeding official development assistance and even foreign direct investment. Remittances have proved to be more stable than private debt and portfolio equity flows, and less volatile than official aid flows, and their annual flow can match or surpass foreign exchange reserves in many small countries. Even in large emerging markets, such as India, remittances are equivalent to at least a quarter of total foreign exchange reserves. India, China, Philippines and Mexico are the top recipients of migrant remittances. The Migration and Remittances Factbook 2016 attempts to present numbers and facts behind the stories of international migration and remittances, drawing on authoritative, publicly available data. It provides a snapshot of statistics on immigration, emigration, skilled emigration, and remittance flows for 210 countries and 15 regional and income groups. The Migration and Remittances Factbook 2016 updates the 2011 edition of the Factbook with additional data on bilateral migration and remittances and second generation diasporas, collected from various sources, including national censuses, labor force surveys, population registers, and other national sources.

Global Economic Prospects 2006

Global Economic Prospects 2006
Author:
Publisher: World Bank Publications
Total Pages: 182
Release:
Genre:
ISBN: 082136345X

International migration, the movement of people across international boundaries to improve economic opportunity, has enormous implications for growth and welfare in both origin and destination countries. An important benefit to developing countries is the receipt of remittances or transfers from income earned by overseas emigrants. Official data show that development countries' remittance receipts totaled 160 billion in 2004, more than twice the size of official aid. This year's edition of Global Economic Prospects focuses on remittances and migration. The bulk of the book covers remittances.

Migration and Poverty

Migration and Poverty
Author: Edmundo Murrugarra
Publisher: World Bank Publications
Total Pages: 178
Release: 2010-11-24
Genre: Business & Economics
ISBN: 0821384376

This volume uses recent research from the World Bank to document and analyze the bidirectional relationship between poverty and migration in developing countries. The case studies chapters compiled in this book (from Tanzania, Nepal, Albania and Nicaragua), as well as the last, policy-oriented chapter illustrate the diversity of migration experience and tackle the complicated nexus between migration and poverty reduction. Two main messages emerge: Although evidence indicates that migration reduces poverty, it also shows that migration opportunities of the poor differ from that of the rest. In general, the evidence suggests that the poor either migrate less or migrate to low return destinations. As a consequence, many developing countries are not maximizing the poverty-reducing potential of migration. The main reason behind this outcome is difficulties in access to remunerative migration opportunities and the high costs associated with migrating. It is shown, for example, that reducing migration costs makes migration more pro-poor. The volume shows that developing countries governments are not without means to improve this situation. Several of the country examples offer a few policy recommendations towards this end.

Remittances

Remittances
Author: Samuel Munzele Maimbo
Publisher: World Bank Publications
Total Pages: 402
Release: 2005
Genre: Business & Economics
ISBN: 0821357948

Migrants have long faced unwarranted constraints to sending money to family members and relatives in their home countries, among them costly fees and commissions, inconvenient formal banking hours, and inefficient domestic banking services that delay final payment to the beneficiaries. Yet such remittances are perhaps the largest source of external finance in developing countries. Officially recorded remittance flows to developing countries exceeded US$125 billion in 2004, making them the second largest source of development finance after foreign direct investment. This book demonstrates that governments in developing countries increasingly recognize the importance of remittance flows and are quickly addressing these constraints.

Sri Lanka's Migrant Labor Remittances

Sri Lanka's Migrant Labor Remittances
Author: Esperanza Lasagabaster
Publisher:
Total Pages:
Release: 2012
Genre:
ISBN:

Remittances-money sent home by immigrant workers abroad-are hugely beneficial to Sri Lanka. Migrants' remittances have grown dramatically in recent years and are now estimated at US$1.5 billion annually. This national phenomenon is consistent with remittance trends in neighboring countries where remittance flows are growing as rapidly. The trend is likely to continue as many workers continue to look abroad for the chance to make a better living. The economic policy implications of these trends are significant. The Sri Lankan Central Bank is now debating the following key issues: the developmental impact of remittances; the high transaction costs associated with remittances; and the level of transparency and accountability in the remittance industry, especially the informal remittance sector. This paper highlights the key policy issues associated with each of these aspects of remittances with the objective of improving the public and private infrastructure for current and future flows. Building on recent World Bank research on remittances that prominently features South Asia, it has been prepared in recognition of the development potential of these flows. It discusses some of the key issues relating to the remittance industry in Sri Lanka. This paper complements the existing literature on migrant labor remittances to Sri Lanka and extends that literature by providing specific policy-relevant guidance on short and long-term policies for enhance enhancing the quality and outreach of rural remittance infrastructure.

Protecting the Rights of Women Migrant Domestic Workers

Protecting the Rights of Women Migrant Domestic Workers
Author: Sophie Henderson
Publisher: Routledge
Total Pages: 216
Release: 2022-02-09
Genre: Law
ISBN: 1000539695

Migrant women across Asia disproportionately work in precarious, insecure, and informal employment sectors that are subject to few regulations, pay low wages, and expose women to harm, of which domestic work is among the most prevalent. This book uses the cases of the Philippines and Sri Lanka to develop a comprehensive, intersectional, rights-based approach to better protect women migrant domestic workers against exploitation. As accounts of exploitation, gender-based violence, torture, and death among migrant domestic workers increase, the recognition and defence of their human and labour rights is an urgent necessity. The Philippines and Sri Lanka are two of the leading labour-sending states of women domestic workers in Asia, and their economies have become increasingly dependent on the remittances they send back home. Drawing on extensive original research this book argues that these two sending states are guilty of structural violence by sustaining a network of institutions, policies and practices, which serve to systematically disadvantage and discriminate against women migrant domestic workers. The research covers the entire migration process, from pre-departure, through to overseas employment, followed by return and reintegration. This book’s innovative application of structural violence theory as a way to investigate the role of state institutions in labour-sending countries in the Global South will be of interest to researchers from across the fields of migration studies, gender studies, human rights law, and Asian Studies.