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"remittances"
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Migrating into financial markets : how remittances became a development tool
\"We understand very little about the billions of dollars that flow throughout the world from migrants back to their home countries. In this rigorous and illuminating work, Matt Bakker, an economic sociologist, examines how these migrant remittances--the resources of some of the world's least affluent people--have come to be seen in recent years as a fundamental contributor to development in the migrant-sending states of the global South. This book analyzes how the connection between remittances and development was forged through the concrete political and intellectual practices of policy entrepreneurs within a variety of institutional settings, from national government agencies and international development organizations to nongovernmental policy foundations and think tanks\"--Provided by publisher.
Book
The Canada-Caribbean remittance corridor : fostering formal remittances to Haiti and Jamaica through effective regulation
Several economies in the Caribbean region, especially from the lower income group, are highly dependent on remittances. Between 1991 and 2006, the combined flows of total remittances reaching the Caribbean have seen almost a 17% average annual growth rate, surpassing USD 6billion in 2005 and overtaking ODA and FDI into the region. In addition, remittances represent more than 20% of the domestic gross domestic product (GDP) in some Caribbean countries and have played a significant role in lessening both balance of payment deficits and the impact of natural disasters to which the region is particularly vulnerable. Given the importance of such remittance flows, this study undertakes an analysis of the various dynamics underlying the Canada-Caribbean remittance corridor, including Caribbean migration issues, remittance market landscapes and regulatory frameworks. This study is intended to assist Canadian and Caribbean national authorities in their mandate of providing incentives for the continued growth and competitiveness of their remittance industries, while protecting remittance markets from being abused by criminals.
eBook
The Macroeconomics of Remittances: the Case of Tajikistan
The paper seeks to assess the macroeconomic implications of large-scale inward remittances for a small open economy. By including remittances in several standard models, the paper concludes that the overall macroeconomic impact of remittances is likely to be ambiguous. The impact depends on the structural characteristics of the receiving country, in particular its consumption and investment patterns, and its capacity to manage large financial inflows. As data deficiencies and methodological problems associated with remittances preclude crosscountry empirical investigation, the paper illustrates these findings with data on Tajikistan, where remittances as a share of GDP are among the highest in the world. The paper also evaluates the pros and cons of remittances in a broader political economy context.
eBook
Beware of Emigrants Bearing Gifts: Optimal Fiscal and Monetary Policy in the Presence of Remittances
This paper uses a stochastic dynamic general equilibrium model to investigate the influence of countercyclical remittances on the conduct of fiscal and monetary policy and trace their effects on real and nominal variables in a business cycle setting. We show that remittances raise disposable income and consumption, and insure against income shocks, thereby raising household welfare. However, remittances increase the correlation between labor and output, thereby producing a more volatile business cycle and increasing output and labor market risk. Optimal monetary policy in the presence of remittances deviates from the Friedman rule, highlighting the need for independent government policy instruments.
eBook
Food remittances : migration and food security in Africa
There is considerable evidence from across the African continent that a significant proportion of cash remittances to rural areas is spent on food. However, bidirectional food remitting -- its drivers, dimensions and impacts -- is an underdeveloped research and policy area. This report therefore reviews the current state of knowledge about food remittances in Africa and aims to make a number of contributions to the study of the relationship between migration and food security.
Book
The Malaysia-Indonesia remittance corridor : making formal transfers the best option for women and undocumented migrants
In Malaysia, Indonesian migrants are showing an increasingly clear preference for informal transfer mechanisms compared to their counterparts in other countries. A little less than half of all Indonesian migrants overseasthought to be around 2 millionare working in Malaysia. An increasing number of migrants are women, and the corridor is also marked by a high number of undocumented migrants. Despite the increasing flows of migrants, only about 10 percent of the estimated flow of remittances into Indonesia from Malaysia is transferred through the formal system. The extent of the preference for the informal sector is unique in this corridor. Indonesian migrants in other countries are using the formal sector far more than the migrants in Malaysia. In addition, Indonesian women and undocumented migrants in Malaysia especially find formal sector transfers either hard to access or inappropriate for their needs. To this end, the study assists policymakers efforts to increase the impact of remittances on economic development and poverty reduction in Indonesia and to investigate options for attracting more migrants to use the formal financial sector. The report provides a descriptive overview of the MalaysiaIndonesia remittance corridor and suggests policy avenues for improving access to formal remittance transfer channels; increasing the transparency of the flows and the cost structure; and facilitating remittance transfers, particularly for undocumented and female migrant workers.
eBook