The Role Of Egyptian Workers Remittances In Financing Economic Development
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| 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.
| 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.
| Author | : Ibrahim Sirkeci |
| Publisher | : World Bank Publications |
| Total Pages | : 471 |
| Release | : 2012-05-30 |
| Genre | : Business & Economics |
| ISBN | : 0821388266 |
During the 2008 financial crisis, the possible changes in remittance-sending behavior and potential avenues to alleviate a probable decline in remittance flows became concerns. This book brings together a wide array of studies from around the world focusing on the recent trends in remittance flows. The authors have gathered a select group of researchers from academic, practitioner and policy making bodies. Thus the book can be seen as a conversation between the different stakeholders involved in or affected by remittance flows globally. The book is a first-of-its-kind attempt to analyze the effects of an ongoing crisis on remittance flows globally. Data analyzed by the book reveals three trends. First, The more diversified the destinations and the labour markets for migrants the more resilient are the remittances sent by migrants. Second, the lower the barriers to labor mobility, the stronger the link between remittances and economic cycles in that corridor. And third, as remittances proved to be relatively resilient in comparison to private capital flows, many remittance-dependent countries became even more dependent on remittance inflows for meeting external financing needs. There are several reasons for migration and remittances to be relatively resilient to the crisis. First, remittances are sent by the stock (cumulative flows) of migrants, not only by the recent arrivals (in fact, recent arrivals often do not remit as regularly as they must establish themselves in their new homes). Second, contrary to expectations, return migration did not take place as expected even as the financial crisis reduced employment opportunities in the US and Europe. Third, in addition to the persistence of migrant stocks that lent persistence to remittance flows, existing migrants often absorbed income shocks and continued to send money home. Fourth, if some migrants did return or had the intention to return, they tended to take their savings back to their country of origin. Finally, exchange rate movements during the crisis caused unexpected changes in remittance behavior: as local currencies of many remittance recipient countries depreciated sharply against the US dollar, they produced a “sale” effect on remittance behavior of migrants in the US and other destination countries.
| 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.
| Author | : Sanket Mohapatra |
| Publisher | : World Bank Publications |
| Total Pages | : 380 |
| Release | : 2011-01-01 |
| Genre | : Social Science |
| ISBN | : 0821385534 |
Remittances sent by African migrants have become an important source of external finance for countries in the Sub-Saharan African region. In many African countries, these flows are larger than foreign direct investment and portfolio debt and equity flows. In some cases, they are similar in size to official aid from multilateral and bilateral donors. Remittance markets in Africa, however, remain less developed than other regions. The share of informal or unrecorded remittances is among the highest for Sub-Saharan African countries. Remittance costs tend to be significantly higher in Africa both for sending remittances from outside the region and for within-Africa (South-South) remittance corridors. At the same time, the remittance landscape in Africa is rapidly changing with the introduction of new remittance technologies, in particular mobile money transfers and branchless banking. This book presents findings of surveys of remittance service providers conducted in eight Sub-Saharan African countries and in three key destination countries. It looks at issues relating to costs, competition, innovation and regulation, and discusses policy options for leveraging remittances for development in Africa.
| Author | : Connel Fullenkamp |
| Publisher | : International Monetary Fund |
| Total Pages | : 94 |
| Release | : 2008-03-11 |
| Genre | : Business & Economics |
| ISBN | : 1451925255 |
Given the large size of aggregate remittance flows (billions of dollars annually), they should be expected to have significant macroeconomic effects on the economies that receive them. This paper directly addresses the two main issues of interest to policymakers with regard to remittances--how to manage their macroeconomic effects, and how to harness their development potential--by reporting the results of the first global study of the comprehensive macroeconomic effects of remittances on recipient economies. In broad terms, the findings of this paper tend to confirm the main benefit cited in the microeconomic literature: remittances improve households' welfare by lifting families out of poverty and insuring them against income shocks. The findings also yield a number of important caveats and policy considerations, however, that have largely been overlooked. The main challenge for policymakers in countries that receive significant flows of remittances is to design policies that promote remittances and increase their benefits while mitigating adverse side effects. Getting these policy prescriptions correct early on is imperative. Globalization and the aging of developed economy populations will ensure that demand for migrant workers remains robust for years to come. Hence, the volume of remittances likely will continue to grow, and with it, the challenge of unlocking the maximum societal benefit from these transfers.
| Author | : Mr.Ruben Atoyan |
| Publisher | : International Monetary Fund |
| Total Pages | : 48 |
| Release | : 2016-07-20 |
| Genre | : Social Science |
| ISBN | : 1498367453 |
This paper analyses the impact of large and persistent emigration from Eastern European countries over the past 25 years on these countries’ growth and income convergence to advanced Europe. While emigration has likely benefited migrants themselves, the receiving countries and the EU as a whole, its impact on sending countries’ economies has been largely negative. The analysis suggests that labor outflows, particularly of skilled workers, lowered productivity growth, pushed up wages, and slowed growth and income convergence. At the same time, while remittance inflows supported financial deepening, consumption and investment in some countries, they also reduced incentives to work and led to exchange rate appreciations, eroding competiveness. The departure of the young also added to the fiscal pressures of already aging populations in Eastern Europe. The paper concludes with policy recommendations for sending countries to mitigate the negative impact of emigration on their economies, and the EU-wide initiatives that could support these efforts.
| Author | : Gerasimos Tsourapas |
| Publisher | : Cambridge University Press |
| Total Pages | : 265 |
| Release | : 2018-12-20 |
| Genre | : Political Science |
| ISBN | : 1108659047 |
In this ground-breaking work, Gerasimos Tsourapas examines how migration and political power are inextricably linked, and enhances our understanding of how authoritarian regimes rely on labour emigration across the Middle East and the Global South. Dr Tsourapas identifies how autocracies develop strategies to tie cross-border mobility to their own survival, highlighting domestic political struggles and the shifting regional and international landscape. In Egypt, the ruling elite has long shaped labour emigration policy in accordance with internal and external tactics aimed at regime survival. Dr Tsourapas draws on a wealth of previously-unavailable archival sources in Arabic and English, as well as extensive original interviews with Egyptian elites and policy-makers in order to produce a novel account of authoritarian politics in the Arab world. The book offers a new insight into the evolution and political rationale behind regime strategies towards migration, from Gamal Abdel Nasser's 1952 Revolution to the 2011 Arab Uprisings.
| Author | : Asian Development Bank |
| Publisher | : Asian Development Bank |
| Total Pages | : 272 |
| Release | : 2012-08-01 |
| Genre | : Business & Economics |
| ISBN | : 9290928336 |
This publication showcases the beginnings of the People‘s Republic of China–Asian Development Bank knowledge sharing platform, its context, activities, challenges, and lessons learned. It concludes by mapping out the next steps to bring it to its strategic mission.
| Author | : Asian Development Bank |
| Publisher | : Asian Development Bank |
| Total Pages | : 74 |
| Release | : 2021-07-01 |
| Genre | : Business & Economics |
| ISBN | : 9292629638 |
Remittances are considered a lifeline of developing countries and are especially vital for migrants and their families. Digital data technology can help alleviate many of the “pain-points” in the remittances industry. For example, it can significantly enhance the convenience, speed, security, and affordability of sending and receiving remittances. This report discusses the importance of remittances in Asia and the Pacific, the key challenges faced by the industry, and the impacts of the coronavirus disease (COVID-19 pandemic. It also includes country case studies that demonstrate the benefits of digitization and makes recommendations on how the digitization of remittances across the region can be further advanced.
