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 Leveraging Migration for Africa written by Dilip Ratha and published by World Bank Publications. This book was released on 2011-04-26 with total page 237 pages. Available in PDF, EPUB and Kindle. Book excerpt: A joint effort led by the African Development Bank and the World Bank, 'Leveraging Migration for Africa' is the first comprehensive publication on harnessing migration, remittances, and other diaspora resources for the development of Africa. It comes at a time when countries in Africa and elsewhere are grappling with difficult choices on how to manage migration. Policy makers can help leverage the contributions of migrants to the development of Africa, reduce remittance costs, improve the efficiency of remittance markets in both origin and destination countries, and address the needs of the origin countries without restricting the emigration of high-skilled professionals. Innovative financing mechanisms such as issuance of diaspora bonds and securitization of future remittance flows can help finance big-ticket projects, such as railways, roads, power plants, and institutions of higher learning that will, step by step, help to transform Africa. This volume contributes to a greater understanding of migration and its potential role in Africas development.
Download or read book written by Isaku Endo and published by World Bank Publications. This book was released on 2010-11-11 with total page 112 pages. Available in PDF, EPUB and Kindle. Book excerpt: This report, Remittance Corridors to Uganda: United Kingdom, United States, and South Africa, analyzes and compares three bilateral remittance corridors. The comparison highlights similarities and differences and the significance of the remittance-sending countries to Uganda in terms of volume, corridor formality, risks, and vulnerability to money laundering. It also describes Uganda as a remittance-receiving country and outlines the remittance flows, market players, distribution network, access and usage of remittance, regulatory framework, and measures taken toward anti-money laundering and combating financing of terrorism (AML/CFT). The issues and challenges faced by Uganda are identified and policy recommendations are made for both Uganda and remittance-sending countries.
Download or read book Determinants and Macroeconomic Impact of Remittances in Sub Saharan Africa written by Kyung-woo Lee and published by International Monetary Fund. This book was released on 2009-10-01 with total page 28 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.
Download or read book The Global Financial Crisis and Workers Remittances to Africa written by Mr.Ralph Chami and published by International Monetary Fund. This book was released on 2010-01-01 with total page 23 pages. Available in PDF, EPUB and Kindle. Book excerpt: Using data on the distribution of migrants from Africa, GDP growth forecasts for host countries, and after estimating remittance multipliers in recipient countries, this paper estimates the impact of the global economic crisis on African GDP via the remittance channel during 2009-2010. It forecasts remittance declines into African countries of between 3 and 14 percentage points, with migrants to Europe hardest hit while migrants within Africa relatively unaffected by the crisis. The estimated impact on GDP for relatively remittance-dependent countries is 2 percent for 2009, but will likely be short-lived, as host country income is projected to rise in 2010.
Download or read book Africa s Finances written by Raj Bardouille and published by Cambridge Scholars Publishing. This book was released on 2008 with total page 356 pages. Available in PDF, EPUB and Kindle. Book excerpt: Globally, the volume of remittances to developing countries exceeds the development aid budgets. This volume explores the contribution of remittances to Africaâ (TM)s finances and provides concrete guidelines as to how these may be expanded. It contains essays by the field leaders in this area which record, review and revise our knowledge base on Africaâ (TM)s remittance patterns. The advent of new information communication technologies can contribute to an expanded capture of remittances from the African diaspora and in Africa new forms of money transfer are already taking shape which reflect this affordance. The volume also examines other resources, such as skills, that the African diaspora remits in its patterns of contact with Africa. The volume, shaped out of a conference on remittances and the African diaspora held at the Institute for African Development at Cornell University, is a timely reminder of the substantial role to be played in Africaâ (TM)s development by Africans themselves.
Download or read book The Effect of International Remittances on Economic Growth in Sub Saharan Africa written by Gashaw Atilaw and published by GRIN Verlag. This book was released on 2022-09-05 with total page 81 pages. Available in PDF, EPUB and Kindle. Book excerpt: Master's Thesis from the year 2021 in the subject Economics - Economic Cycle and Growth, grade: 3.75 (good), Ethiopian Civil Service University, language: English, abstract: This paper is about the effect of international remittances of economic growth in sub-Saharan Africa. For many developing economies, remittances constitute the single largest source of foreign exchange, exceeding export revenues, foreign direct investment (FDI), and other private capital inflows. This study aims to examine the effect of international remittances on economic growth in SSA countries using a panel data approach. The System Generalized Method of Moments was used as the main model of analysis. The sample consists of 29 SSA countries for the period 2004-2019. The study findings show that international remittance has a positive and significant effect on economic growth in SSA. The study recommends that SSA countries should be designing policies and strategies that facilitate less costly and hassle-free flow of remittances into national development. There is a need to have well-established institutional frameworks to train, support, and ensure the welfare of emigrants abroad by the provision of information or services to assist migrant welfare and promote remittances and investment in the home country.
Download or read book The Market for Remittance Services in Southern Africa written by World Bank Group and published by . This book was released on 2018 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: Remittances are an important source of income for households in the Southern African Development Community (SADC), as well as a crucial source of foreign exchange for countries in the region. Despite the relatively large inflows of remittances to SADC, the cost of sending money to and within the region is significantly higher than other regions in the world. To address the high cost of remittances globally, the World Bank has been involved in a number of initiatives aimed at improving the efficiency and safety of the market for remittances. At the regional level, the SADC Committee of Central Bank Governors (CCBG) has led several initiatives aimed at enhancing the regional payment system infrastructure, also with a focus on reducing the cost of remittances within the region.
Download or read book Black Markets and Militants written by Khalid Mustafa Medani and published by Cambridge University Press. This book was released on 2022-09-08 with total page 427 pages. Available in PDF, EPUB and Kindle. Book excerpt: Understanding the political and socio-economic factors which give rise to youth recruitment into militant organizations is central to grasping some of the most important issues that affect the contemporary Middle East and Africa. In this book, Khalid Mustafa Medani explains why youth are attracted to militant organizations, examining the specific role economic globalization plays in determining how and why militant activists emerge. Based on extensive fieldwork, Medani offers an in-depth analysis of the impact of globalization, neoliberal reforms and informal economic networks on the rise and evolution of moderate and militant Islamist movements. In an original contribution to the study of Islamist and ethnic politics, he shows the importance of understanding when and under what conditions religious rather than other forms of identity become politically salient. This title is also available as Open Access on Cambridge Core.
Download or read book The Market for Remittance Services in Southern Africa written by Weltbankgruppe and published by . This book was released on 2018 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: Remittances are an important source of income for households in the Southern African Development Community (SADC), as well as a crucial source of foreign exchange for countries in the region. Despite the relatively large inflows of remittances to SADC, the cost of sending money to and within the region is significantly higher than other regions in the world. To address the high cost of remittances globally, the World Bank has been involved in a number of initiatives aimed at improving the efficiency and safety of the market for remittances. At the regional level, the SADC Committee of Central Bank Governors (CCBG) has led several initiatives aimed at enhancing the regional payment system infrastructure, also with a focus on reducing the cost of remittances within the region.
Download or read book Migration Remittances and Sustainable Development in Africa written by Maty Konte and published by Routledge. This book was released on 2020-11-26 with total page 329 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book provides a strong multidisciplinary examination of the links between migration, remittances and sustainable development in Africa. It makes evidence-based policy recommendations on migration to help achieve the Sustainable Development Goals. The key themes examined are migration and remittances, and their relations with the following issues: economic transformation, education and knowledge, corruption and conflict. Cross-cutting issues such as gender equality and youth are weaved throughout the chapters, and a rich range of country contexts are presented. The volume also discusses challenges in managing migration flows. It will be of interest to advanced students, academics and policy makers in development economics and sustainable development.
Download or read book Uganda s Remittance Corridors from United Kingdom United States and South Africa written by Isaku Endo and published by . This book was released on 2011 with total page 239 pages. Available in PDF, EPUB and Kindle. Book excerpt: This report, Remittance Corridors to Uganda: United Kingdom, United States, and South Africa, analyzes and compares three bilateral remittance corridors. The comparison highlights similarities and differences and the significance of the remittance-sending countries to Uganda in terms of volume, corridor formality, risks, and vulnerability to money laundering. It also describes Uganda as a remittance-receiving country and outlines the remittance flows, market players, distribution network, access and usage of remittance, regulatory framework, and measures taken toward anti-money laundering and.
Download or read book The UK Nigeria Remittance Corridor written by Raúl Hernández-Coss and published by World Bank Publications. This book was released on 2007-01-01 with total page 100 pages. Available in PDF, EPUB and Kindle. Book excerpt: This study is the first research work on remittances conducted in Nigeria and reveals the actual state of its remittance market. The report describes how United Kingdom residents of Nigerian origin transfer remittances home and how the funds are distributed to their beneficiaries in Nigeria. The review presents the remittance industry conditions existing in the UKNigeria remittance corridor at the origination and distribution stages of the transactions, and the intermediaries who facilitate the transfers. The report makes conclusions and compares these main findings with lessons from other corridors. The UK-Nigeria remittance corridor has an equal dominance of formal and informal remittance intermediaries. Although several formal financial institutions for transferring money exist in the UK, many people choose to send money informally. More collaboration between the UK and Nigeria is necessary to develop the remittance market, to encourage the use of formal channels, and to enhance the development potential. Among its benefits, the remittance country partnership (RCP) between UK and Nigeria aims to reduce the cost of remittance transfers. The Nigerian government is engaging its diaspora to help spur economic growth. This report recommends that each government focus on improving data collection at its end of the corridor and do more research to provide its policymakers and its private sector with accurate information.
Download or read book Remittances and Macroeconomic Volatility in African Countries written by Ahmat Jidoud and published by International Monetary Fund. This book was released on 2015-03-02 with total page 37 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper investigates the channels through which remittances affect macroeconomic volatility in African countries using a dynamic stochastic general equilibrium (DSGE) model augmented with financial frictions. Empirical results indicate that remittances—as a share of GDP—have a significant smoothing impact on output volatility but their impact on consumption volatility is somewhat small. Furthermore, remittances are found to absorb a substantial amount of GDP shocks in these countries. An investigation of the theoretical channels shows that the stabilization impact of remittances essentially hinges on two channels: (i) the size of the negative wealth effect on labor supply induced by remittances and, (ii) the strength of financial frictions and the ability of remittances to alleviate these frictions.
Download or read book Remittances in Africa written by and published by World Bank Publications. This book was released on with total page 56 pages. Available in PDF, EPUB and Kindle. Book excerpt: In recent years, much emphasis has been placed on the magnitude, growth and leveraging of remittances for development in the African continent. Remittances in Africa is a review that catalogues the main studies, policies and technical assistance programs on remittances in Africa that have been carried out by the World Bank, other multilateral and bilateral development agencies, and governments. These activities have lead up to and influenced, directly or indirectly, the initiative of creating an African Institute for Remittances (AIR). As one of five Africa’s Legacy projects, AIR is to be established with the objective of harnessing migrant remittances for social and economic development in Africa. The contents of Remittances in Africa should prove useful in undertaking further research in support of this goal.
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 Grants Remittances and the Equilibrium Real Exchange Rate in Sub Saharan African Countries written by Brett Rayner and published by International Monetary Fund. This book was released on 2009-04 with total page 30 pages. Available in PDF, EPUB and Kindle. Book excerpt: During the 1980s and early 1990s many Sub-Saharan African (SSA) countries undertook reforms to promote financial sector deepening. Nevertheless, financial sectors in SSA countries remain among the shallowest in the world and, within Sub-Saharan Africa, financial depth in the CFA franc zone is even more limited. This paper sets out to investigate empirically factors that may explain why financial depth in the CFA franc zone is shallower than in the rest of SSA using panel data for a sample of 40 countries for 1992-2006. The results indicate that the gap in financial development between the CFA franc zone countries and the rest of SSA can be explained by differences in institutional quality (e.g., availability of credit information, and strength and enforcement of property rights), variables that policy makers can influence.
