Download or read book International Remittances Migration and Primary Commodities written by Stephen Snudden and published by . This book was released on 2018 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper documents the global crude oil market as a key driver of international migration and remittances. Structural estimation documents that crude oil supply and demand shocks induce sizeable remittances flows. The sign and magnitude of remitter outflows differ across countries and structural shocks. A multilateral global general equilibrium model is used to show how oil-exporting remitters generate international remittance and migration spillovers from crude oil price movements. Remittees' economic outcomes from remittances and migration channels are found to be dominated by terms of trade channels for shocks to the global market for crude oil. Due to this, studies of remittance flows need to account for the source of the commodity price movement if using the correlation between remittee real GDP and remittance inflows.
Download or read book International Remittances Migration and Primary Commodities in FSGM written by Stephen Snudden and published by International Monetary Fund. This book was released on 2017-02-10 with total page 43 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper adds international migration and remittances into the IMF’s Flexible System of Global Models (FSGM). FSGM is a global general equilibrium model with endogenous primary commodity markets. A method to estimate the structural dynamics of major remitter regions is proposed. The dynamics of remittances and migration in FSGM are calibrated to be consistent with the main stylized facts of the empirical estimates. Structural disturbances pertinent to current global remittance flows are examined. These disturbances include disruptions to oil supply, output variation in Europe and the United States, labor nationalization policies in Saudi Arabia, and a global reduction in the cost to remit. The multilateral framework illustrates how remittance inflows need not originate from the region with the underlying economic disturbance but can arise from third party remitter regions affected by global commodity markets. The results also illustrate that the correlation of remittance inflows and the real GDP of labor-exporting economies can be either positively or negatively correlated. The evidence suggests that the behavioral incentive to migrate and remit cannot be deduced from correlations of real GDP and remittance inflows.
Download or read book Migration and Remittances Factbook 2016 written by Dilip Ratha and published by World Bank Publications. This book was released on 2016-04-08 with total page 299 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.
Download or read book International remittances and the household analysis and review of global evidence written by Richard H. Adams and published by World Bank Publications. This book was released on 2007 with total page 32 pages. Available in PDF, EPUB and Kindle. Book excerpt: Abstract: This paper examines the economic impact of international remittances on countries and households in the developing world. To analyze the country-level impact of remittances, the paper estimates an econometric model based on a new data set of 115 developing countries. Results suggest that countries located close to a major remittance-sending region (like the United States, OECD-Europe) are more likely to receive international remittances, and that while the level of poverty in a country has no statistical effect on the amount of remittances received, for those countries which are fortunate enough to receive remittances, these resource flows do tend to reduce the level and depth of poverty. At the household level, a review of findings from recent research suggest that households receiving international remittances spend less at the margin on consumption goods-like food-and more on investment goods-like education and housing. Households receiving international remittances also tend to invest more in entrepreneurial activities.
Download or read book International remittances and development existing evidence policies and recommendations Occasional Paper ITD Documento de Divulgaci n ITD n 41 written by J. Ernesto López Córdova and published by BID-INTAL. This book was released on 2006 with total page 54 pages. Available in PDF, EPUB and Kindle. Book excerpt: In this paper we survey the recent literature assessing the development impact of international migrant remittances. We begin by arguing that international migration should be fully incorporated in ongoing debates on the impact of globalization. We show that, despite methodological challenges, there is an emerging body of evidence suggesting that migrant remittances can have an important impact on development and household welfare. Remittances appear to help in poverty reduction, accumulation of human capital, investment and saving. Finally, we offer an account of existing policies and recommendations to facilitate remittance flows and to take advantage of their developmental potential.
Download or read book Global Economic Prospects 2006 written by and published by World Bank Publications. This book was released on with total page 182 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.
Download or read book International Transactions in Remittances written by Statistical Office of the European Communities and published by International Monetary Fund. This book was released on 2009 with total page 96 pages. Available in PDF, EPUB and Kindle. Book excerpt: "The International Transactions in Remittance: Guide for Compilers and Users (RCG)" presents concepts, definitions, and classifications related to remittances. It is consistent with the new standards for measuring balance of payments transactions, as contained in the sixth edition of the "Balance of Payments and International Investment Position Manual (BPM6)." These standards are used globally to compile comprehensive and comparable data. "The RCG" identifies the main remittances compilation methods currently being used by compilers and discusses in detail the strengths and weaknesses of each method. It is the first manual providing compilation guidance for remittances and is also the first compilation guide based on concepts set out in "BPM6." Although the "RCG" is primarily aimed at remittances data compilers, it may also be useful for users who wish to understand remittances data.
Download or read book The Impact of Remittances on Economic Activity The Importance of Sectoral Linkages written by Hector Perez-Saiz and published by International Monetary Fund. This book was released on 2019-08-16 with total page 37 pages. Available in PDF, EPUB and Kindle. Book excerpt: We propose a simple macroeconomic model with input-output sectoral linkages based on Acemoglu et al. (2016) to quantify how changes in aggregate demand due to additional income from household’s remittances propagates through the network of input-output linkages in Sub-Saharan African countries. We first propose two network centrality measures to assess the role of some sectors as key input providers in the economy. Then, we use these measures to quantify the effect of sectoral linkages on sectoral and total output following an increase in remittances inflows. Our empirical results suggest that the effects of remittances on recipient economies increase with the degree of linkages across sectors, which is especially prominent in the case of the financial intermediation sector. Our paper contributes to the emerging macroeconomic literature on the propagation of shocks across sectors and the implications for the whole economy.
Download or read book International Migration Remittances and Brain Drain written by Serge Feld and published by Springer Nature. This book was released on 2021-08-24 with total page 183 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.
Download or read book Migrant Remittances and Development in the Global Economy written by Manuel Orozco and published by Lynne Rienner Pub. This book was released on 2013 with total page 249 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.
Download or read book Remittances written by Samuel Munzele Maimbo and published by World Bank Publications. This book was released on 2005 with total page 402 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.
Download or read book Remittance Markets in Africa written by Sanket Mohapatra and published by World Bank Publications. This book was released on 2011-01-01 with total page 380 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.
Download or read book International Migration Remittances and Poverty in Developing Countries written by John Page and published by . This book was released on 2016 with total page 38 pages. Available in PDF, EPUB and Kindle. Book excerpt: Few studies have examined the impact of international migration and remittances on poverty in a broad cross-section of developing countries. Adams and Page try to fill this gap by constructing a new data set on poverty, international migration, and remittances for 74 low- and middle-income developing countries. Four key findings emerge:- International migration - defined as the share of a country's population living abroad - has a strong, statistical impact in reducing poverty. On average, a 10 percent increase in the share of international migrants in a country's population will lead to a 1.9 percent decline in the share of people living in poverty ($1.00 a person a day).- Distance to a major labor-receiving region - like the United States or OECD (Europe) - has an important effect on international migration. Developing countries that are located closest to the United States or OECD (Europe) are also those countries with the highest rates of migration.- An inverted U-shaped curve exists between the level of country per capita income and international migration. Developing countries with low or high per capita GDP produce smaller shares of international migrants than do middle-income developing countries. The authors find no evidence that developing countries with higher levels of poverty produce more migrants. Because of considerable travel costs associated with international migration, international migrants come from those income groups which are just above the poverty line in middle-income developing countries.- International remittances - defined as the share of remittances in country GDP - have a strong, statistical impact in reducing poverty. On average, a 10 percent increase in the share of international remittances in a country's GDP will lead to a 1.6 percent decline in the share of people living in poverty.This paper - a product of the Poverty Reduction Group, Poverty Reduction and Economic Management Network - is part of a larger effort in the network to understand better how international migration and remittances affect poverty in developing countries.
Download or read book Lebanon written by International Monetary Fund. Middle East and Central Asia Dept. and published by International Monetary Fund. This book was released on 2019-10-17 with total page 10 pages. Available in PDF, EPUB and Kindle. Book excerpt: This Selected Issues paper studies the inefficiencies related to the electricity sector and assesses the potential impact of the 2019 reform plan. Electricity shortages are the second constraint to competitiveness reported by businesses in Lebanon, based on the Enterprise Survey conducted by the World Bank. Lebanon’s electricity sector performance is worse than other similar countries in the region. Many businesses must rely on costly private generators. Income inequalities are exacerbated by both the geographical disparities in Electricité du Liban’s (EdL) electricity provision and its tariff structure. The most vulnerable households are the small consumers located in regions with little electricity provision from EdL. A new electricity plan was approved by Cabinet on April 9, 2019 and ratified by Parliament on April 17, 2019. Although it is critical that the plan is decisively implemented, it is also important that it is enhanced further to fully restore EdL’s viability. Introducing well-targeted measures, such as cash transfers, would help protect the most vulnerable households from the tariff increase. As planned in the reform package, consumer tariffs should be indexed on the evolution of input prices to guarantee that it will not be negatively impacted by future developments in fuel or gas prices.
Download or read book Defying the Odds Remittances During the COVID 19 Pandemic written by Mr. Kangni R Kpodar and published by International Monetary Fund. This book was released on 2021-07-16 with total page 35 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper provides an early assessment of the dynamics and drivers of remittances during the COVID-19 pandemic, using a newly compiled monthly remittance dataset for a sample of 52 countries, of which 16 countries with bilateral remittance data. The paper documents a strong resilience in remittance flows, notwithstanding an unprecedent global recession triggered by the pandemic. Using the local projection approach to estimate the impulse response functions of remittance flows during Jan 2020-Dec 2020, the paper provides evidence that: (i) remittances responded positively to COVID-19 infection rates in migrant home countries, underscoring its role as an important automatic stabilizer; (ii) stricter containment measures have the unintended consequence of dampening remittances; and (iii) a shift from informal to formal remittance channels due to travel restrictions appears to have also played a role in the surge in formal remittances. Lastly, the size of the fiscal stimulus in host countries is positively associated with remittances as the fiscal response cushions the economic impact of the pandemic.
Download or read book International Migration Remittances and the Brain Drain written by Maurice Schiff and published by World Bank Publications. This book was released on 2005-10-15 with total page 242 pages. Available in PDF, EPUB and Kindle. Book excerpt: International migration, the movement of people across international boundaries, has enormous economic, social and cultural implications in both origin and destination countries. Using original research, this title examines the determinants of migration, the impact of remittances and migration on poverty, welfare, and investment decisions, and the consequences of brain drain, brain gain, and brain waste.
Download or read book Macroeconomic Consequences of Remittances written by Connel Fullenkamp and published by International Monetary Fund. This book was released on 2008-03-11 with total page 94 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.
