Download or read book Sri Lanka s Remittance Economy written by Matt Withers and published by Routledge. This book was released on 2022-08 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book demonstrates how cumulatively causal processes at structural, institutional and agency levels have forged a precariously remittance-dependent economy in Sri Lanka.

Download or read book Sri Lanka s Remittance Economy written by Matt Withers and published by Routledge. This book was released on 2019-05-16 with total page 178 pages. Available in PDF, EPUB and Kindle. Book excerpt: Employing a multiscalar approach to migration outcomes, spanning individual households, local communities, the macroeconomy and global patterns of capital accumulation, this book demonstrates how cumulatively causal processes at structural, institutional and agency levels have forged a precariously remittance-dependent economy in Sri Lanka. This book combines historical-structural analysis with qualitative research to contend that remittance inflows have reinforced patterns of uneven development in Sri Lanka. At the heart of this argument is a bold critique of remittance capital that inverts the migration–development nexus which has come to dominate international policymaking, with implications for Sri Lanka and other ‘remittance economies’ throughout the Global South. The author contends that temporary labour migration from Sri Lanka is a process of ‘migration-underdevelopment’, in which remittance inflows – ubiquitously considered a key source of capital for developing economies – are reinforcing of uneven development at multiple scales and produce unsustainable development outcomes. Offering a uniquely systematic critique of remittances as a source of developmental capital for countries of origin, such as Sri Lanka, this book will be of interest to academics in the field of development studies, migration studies and Asian studies.

Download or read book Sri Lanka s Migrant Labor Remittances written by Esperanza Lasagabaster and published by World Bank Publications. This book was released on 2005 with total page 30 pages. Available in PDF, EPUB and Kindle. Book excerpt: Remittances - money sent home by immigrant workers abroad - are hugely beneficial to Sri Lanka. Migrants' remittances have grown dramatically in recent years and are now estimated at US$1.5 billion annually. This national phenomenon is consistent with remittance trends in neighboring countries where remittance flows are growing as rapidly. The trend is likely to continue as many workers continue to look abroad for the chance to make a better living. The economic policy implications of these trends are significant. The Sri Lankan Central Bank is now debating the following key issues: the developmental impact of remittances; the high transaction costs associated with remittances; and the level of transparency and accountability in the remittance industry, especially the informal remittance sector. This paper highlights the key policy issues associated with each of these aspects of remittances with the objective of improving the public and private infrastructure for current and future flows. Building on recent World Bank research on remittances that prominently features South Asia, it has been prepared in recognition of the development potential of these flows. It discusses some of the key issues relating to the remittance industry in Sri Lanka. This paper complements the existing literature on migrant labor remittances to Sri Lanka and extends that literature by providing specific policy-relevant guidance on short and long-term policies for enhance enhancing the quality and outreach of rural remittance infrastructure.

Download or read book Sri Lanka s Remittance Economy written by Matt Withers and published by . This book was released on 2019 with total page 178 pages. Available in PDF, EPUB and Kindle. Book excerpt: Employing a multiscalar approach to migration outcomes, spanning individual households, local communities, the macroeconomy and global patterns of capital accumulation, this book demonstrates how cumulatively causal processes at structural, institutional and agency levels have forged a precariously remittance-dependent economy in Sri Lanka. This book combines historical-structural analysis with qualitative research to contend that remittance inflows have reinforced patterns of uneven development in Sri Lanka. At the heart of this argument is a bold critique of remittance capital that inverts the migration-development nexus which has come to dominate international policymaking, with implications for Sri Lanka and other 'remittance economies' throughout the Global South. The author contends that temporary labour migration from Sri Lanka is a process of 'migration-underdevelopment', in which remittance inflows - ubiquitously considered a key source of capital for developing economies - are reinforcing of uneven development at multiple scales and produce unsustainable development outcomes. Offering a uniquely systematic critique of remittances as a source of developmental capital for countries of origin, such as Sri Lanka, this book will be of interest to academics in the field of development studies, migration studies and Asian studies.

Download or read book Sri Lanka s Migrant Labor Remittances written by Esperanza Lasagabaster and published by . This book was released on 2012 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: Remittances-money sent home by immigrant workers abroad-are hugely beneficial to Sri Lanka. Migrants' remittances have grown dramatically in recent years and are now estimated at US$1.5 billion annually. This national phenomenon is consistent with remittance trends in neighboring countries where remittance flows are growing as rapidly. The trend is likely to continue as many workers continue to look abroad for the chance to make a better living. The economic policy implications of these trends are significant. The Sri Lankan Central Bank is now debating the following key issues: the developmental impact of remittances; the high transaction costs associated with remittances; and the level of transparency and accountability in the remittance industry, especially the informal remittance sector. This paper highlights the key policy issues associated with each of these aspects of remittances with the objective of improving the public and private infrastructure for current and future flows. Building on recent World Bank research on remittances that prominently features South Asia, it has been prepared in recognition of the development potential of these flows. It discusses some of the key issues relating to the remittance industry in Sri Lanka. This paper complements the existing literature on migrant labor remittances to Sri Lanka and extends that literature by providing specific policy-relevant guidance on short and long-term policies for enhance enhancing the quality and outreach of rural remittance infrastructure.

Download or read book Migrant Remittances and Low income Households in Sri Lanka written by Judith Shaw and published by Monash University Press. This book was released on 2008 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: In many developing countries, remittances from workers who have migrated elsewhere have expanded in the last three decades to become a key balance of payments. In response to their growing economic significance, there has been increasing policy interest in harnessing remittances as a resource for macroeconomic and regional development, but few studies give detailed consideration to migrant workers and their families from a development policy perspective. Sri Lanka, a small low-income country, sends large numbers of workers into overseas labor markets. This working paper contributes to the building of a development policy framework by focusing on the main issues which affect remittance flows to households and the expenditure decisions of recipients in Sri Lanka. The study recommends appropriate corrective measures.

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 Migration Remittances written by Bilesha Weeraratne and published by . This book was released on 2019 with total page 28 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Migration and Remittances During the Global Financial Crisis and Beyond written by Ibrahim Sirkeci and published by World Bank Publications. This book was released on 2012-05-30 with total page 471 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.

Download or read book Migrant Labor Remittances in South Asia written by Samuel Munzele Maimbo and published by World Bank Publications. This book was released on 2005-06-01 with total page 147 pages. Available in PDF, EPUB and Kindle. Book excerpt: According to a recent World Bank study of remittances, Bangladesh, India, Pakistan and Sri Lanka are all among the top 20 receivers of remittances, with estimated receipts of US$3.2 billion, US$8.4 billion and U.S$ 1.5 billion respectively. 'Migrant Labor Remittances in South Asia' identifies and discusses the key issues affecting the remittance industry in South Asia. It examines the development and implementation of policies, processes, and infrastructure to foster a development-oriented transfer of financial resources between migrants in developed economies and their families in the region. Rather than duplicate previous remittances work, this title only focuses on the region?s distinguishing characteristics, namely: --A large migrant population of semi-skilled and unskilled workers largely concentrated in the Arabian Gulf countries, particularly Saudi Arabia and the United Arab Emirates. --The presence of dedicated public institutions and government financial incentives aimed at facilitating and providing incentives for temporary migration and remittance inflows --The existence of large state bank branch networks with immense potential for a more effective and efficient remittance financial market. --The widespread usage of trade related informal remittance channels by both legal and illegal migrants. The book is intended for policymakers who legislate and regulate the financial sector, as well as for researchers and providers of remittance services.

Download or read book Economy of the Conflict Region in Sri Lanka written by Muttukrishna Sarvananthan and published by . This book was released on 2007 with total page 116 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Sri Lankan Economy written by Nagendra V. Chowdary and published by . This book was released on 2005 with total page 252 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book is a comprehensive introduction to Sri Lankas economy. Today, Sri Lanka has a literacy rate of more than 90 percent, a per capita income of $837, and life expectancy of 72 years. Its efforts to improve its social and economic conditions can crea

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 Migrants Remittances and Development written by Bimal Ghosh and published by International Organization for Migration (IOM). This book was released on 2006 with total page 132 pages. Available in PDF, EPUB and Kindle. Book excerpt: Highlights the ways in which the development potential of remittances could be most effiectively used, while avoiding the possible risks. In doing so, it seeks to help promote a more balanced approach to the issue of remittances and development, which, as indicated above, is now high on the global economic agenda.

Download or read book The Global Findex Database 2017 written by Asli Demirguc-Kunt and published by World Bank Publications. This book was released on 2018-04-19 with total page 148 pages. Available in PDF, EPUB and Kindle. Book excerpt: In 2011 the World Bank—with funding from the Bill and Melinda Gates Foundation—launched the Global Findex database, the world's most comprehensive data set on how adults save, borrow, make payments, and manage risk. Drawing on survey data collected in collaboration with Gallup, Inc., the Global Findex database covers more than 140 economies around the world. The initial survey round was followed by a second one in 2014 and by a third in 2017. Compiled using nationally representative surveys of more than 150,000 adults age 15 and above in over 140 economies, The Global Findex Database 2017: Measuring Financial Inclusion and the Fintech Revolution includes updated indicators on access to and use of formal and informal financial services. It has additional data on the use of financial technology (or fintech), including the use of mobile phones and the Internet to conduct financial transactions. The data reveal opportunities to expand access to financial services among people who do not have an account—the unbanked—as well as to promote greater use of digital financial services among those who do have an account. The Global Findex database has become a mainstay of global efforts to promote financial inclusion. In addition to being widely cited by scholars and development practitioners, Global Findex data are used to track progress toward the World Bank goal of Universal Financial Access by 2020 and the United Nations Sustainable Development Goals. The database, the full text of the report, and the underlying country-level data for all figures—along with the questionnaire, the survey methodology, and other relevant materials—are available at www.worldbank.org/globalfindex.

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 Financial Linkages Remittances and Resource Dependence in East Asia written by Takuji E. T. Al KINKYO and published by World Scientific. This book was released on 2016-01-06 with total page 232 pages. Available in PDF, EPUB and Kindle. Book excerpt: "The purpose of this book is to empirically analyse the multifaceted nature of financial linkages in East Asia and to discuss the key policy challenges faced by the region's economies. Although the emphasis is placed on East Asia, some of the chapters cover a broader area of countries depending on the aim of the study. Particular areas of focus in these studies include: the evolution of cross-border financial linkages in East Asia; long-run economic consequences of remittance inflows and natural resource dependence; and policy priorities for the financial integration and management of resource-rich economies."--