Remittances And Economic Growth
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| Author | : Manuel Orozco |
| Publisher | : Lynne Rienner Pub |
| Total Pages | : 249 |
| Release | : 2013 |
| Genre | : Political Science |
| ISBN | : 9781588268716 |
Manuel Orozco moves beyond the numbers to provide a uniquely comprehensive, historically informed overview and analysis of the complex role of migrant remittances in the global economy. How do patterns of migration and remittances differ across regions? What kinds of regulatory and institutional frameworks best support the contributions of remittances to local development? What has been the impact of remittances on migrants and their families? Drawing on empirical data from five continents and firmly grounded in theory, Orozco¿s work reflects the evolution of our understanding about the importance of migrant remittances and the policies that govern them.
| Author | : Pablo Fajnzylber |
| Publisher | : World Bank Publications |
| Total Pages | : 410 |
| Release | : 2008-02-08 |
| Genre | : Business & Economics |
| ISBN | : 0821368710 |
Workers' remittances have become a major source of financing for developing countries and are especially important in Latin America and the Caribbean, which is at the top of the ranking of remittance receiving regions in the world. While there has been a recent surge in analytical work on the topic, this book is motivated by the large heterogeneity in migration and remittance patterns across countries and regions, and by the fact that existing evidence for Latin America and the Caribbean is restricted to only a few countries, such as Mexico and El Salvador. Because the nature of the phenomenon varies across countries, its development impact and policy implications are also likely to differ in ways that are still largely unknown. This book helps fill the gap by exploring, in the specific context of Latin America and Caribbean countries, some of the main questions faced by policymakers when trying to respond to increasing remittances flows. The book relies on cross-country panel data and household surveys for 11 Latin American countries to explore the development impact of remittance flows along several dimensions: growth, poverty, inequality, schooling, health, labor supply, financial development, and real exchange rates.
| 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 | : 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 | : 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 | : Serge Feld |
| Publisher | : Springer Nature |
| Total Pages | : 183 |
| Release | : 2021-08-24 |
| Genre | : Social Science |
| ISBN | : 3030755134 |
This book provides an analysis of theoretical and empirical researches on the effects of remittances and brain drain on the development of less developed countries (LDCs). It analyzes the most recent global, regional and national data as well as the arguments for and against the emigration of highly skilled personnel and remittances, thereby highlighting policies aimed at optimizing the link between migration and development. The book examines in depth the arguments against "brain drain", namely the loss of skilled labor, wasted public investment in higher education, and reduced tax revenues. It also presents the arguments in favor, emphasizing on the transfer of scientific knowledge, the incentive effect of increased education spending, and participation in international networks. It addresses the central issue of emigration of medical personnel from developing countries and its consequences on the population.The book focuses on the effects of remittances on poverty and inequalities. They improve health conditions, raise education levels and empower women. Positive effects include the stabilizing function of remittances and the improvement of external accounts. Other effects are subject to conflicting assessments such as the reduction of labor supply and the "Dutch disease". The focus is on institutions who integrate economic, social and political incentives in order to establish remittances at the heart of development policies.The book provides a reference for students and research centers devoted to development economics, centers for international migration studies, and research units focusing on population, migration, and development.
| Author | : Mr. Raju Jan Singh |
| Publisher | : International Monetary Fund |
| Total Pages | : 29 |
| Release | : 2009-10-01 |
| Genre | : Business & Economics |
| ISBN | : 1451917848 |
The paper investigates the determinants and the macroeconomic role of remittances in sub-Saharan Africa, assembling the most comprehensive dataset available so far on remittances in the region and incorporating data on the diaspora. It finds that remittances are larger for countries with a larger diaspora or when the diaspora is located in wealthier countries, and that they behave countercyclically, consistent with a role as a shock absorber. Although the effect of remittances in growth regressions is negative, countries with well functioning domestic institutions seem nevertheless to be better at unlocking the potential for remittances to contribute to faster economic growth.
| 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 | : Takeshi Inoue |
| Publisher | : World Scientific |
| Total Pages | : 165 |
| Release | : 2019-05-09 |
| Genre | : Business & Economics |
| ISBN | : 9813279109 |
Many empirical analyses have demonstrated that financial inclusion and remittance inflows both indicate the potential of finance to resolve issues of growth and poverty in developing countries. Based on a wide-ranging review of prior research and empirical analyses from a new perspective, this book aims to systematically clarify the relations between financial inclusion, remittance inflows, economic growth, and poverty reduction in developing countries, revealing a new role for development finance.
| 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.
