Do Workers Remittances Reduce The Probability Of Current Account Reversals
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Do Workers Remittances Reduce The Probability Of Current Account Reversals
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Author : Matteo Bugamelli
language : en
Publisher: World Bank Publications
Release Date : 2005
Do Workers Remittances Reduce The Probability Of Current Account Reversals written by Matteo Bugamelli and has been published by World Bank Publications this book supported file pdf, txt, epub, kindle and other format this book has been release on 2005 with Balance of payments categories.
The authors combine the literature on financial crises in emerging markets and developing economies with that on international migrations by investigating whether the increasingly large flows of workers' remittances can help reduce the probability of current account reversals. The rationale for this stands in the great stability and low cyclicality of remittances as compared with other private capital flows: these properties, combined with the fact that remittances are cheap inflows of foreign currencies, might reduce the probability that foreign investors suddenly flee out of emerging markets and developing economies and trigger a dramatic current account adjustment. The authors find that remittances can have such a beneficial effect. In particular, they show that a high level of remittances, as a ratio of GDP, makes the relationship between a decreasing stock of international reserves (over GDP) and a higher probability of current account crises less stringent. The same occurs, though less neatly, for the positive relationship between an increasing stock of external debt (over GDP) and the probability of current account reversals. The results point also to a threshold effect of remittances: the mechanisms just described are, in fact, much stronger when remittances are above 3 percent of GDP.
Do Workers Remittances Reduce The Probability Of Current Account Reversals
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Author : Matteo Bugamelli
language : en
Publisher:
Release Date : 2012
Do Workers Remittances Reduce The Probability Of Current Account Reversals written by Matteo Bugamelli and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2012 with categories.
The authors combine the literature on financial crises in emerging markets and developing economies with that on international migrations by investigating whether the increasingly large flows of workers' remittances can help reduce the probability of current account reversals. The rationale for this stands in the great stability and low cyclicality of remittances as compared with other private capital flows: these properties, combined with the fact that remittances are cheap inflows of foreign currencies, might reduce the probability that foreign investors suddenly flee out of emerging markets and developing economies and trigger a dramatic current account adjustment. The authors find that remittances can have such a beneficial effect. In particular, they show that a high level of remittances, as a ratio of GDP, makes the relationship between a decreasing stock of international reserves (over GDP) and a higher probability of current account crises less stringent. The same occurs, though less neatly, for the positive relationship between an increasing stock of external debt (over GDP) and the probability of current account reversals. The results point also to a threshold effect of remittances: the mechanisms just described are, in fact, much stronger when remittances are above 3 percent of GDP.
Remittance Concentration And Volatility Evidence From 72 Developing Countries
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Author : Amr Hosny
language : en
Publisher: International Monetary Fund
Release Date : 2020-01-17
Remittance Concentration And Volatility Evidence From 72 Developing Countries written by Amr Hosny and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2020-01-17 with Business & Economics categories.
This paper contributes to the literature by introducing the role of geographic concentration of the source of remittances. Specifically, using data over 2010-2015 for 72 developing countries, we study the impact of (i) large remittances and (ii) the geographic concentration of the source of remittances on economic volatilities. Results suggest that while (i) large remittances can be stabilizing on average, (ii) high remittance concentration from source countries can aggravate economic volatilities in recipient countries. Results are robust to global shocks affecting both source and recipient countries, and volatility in the remittance-sending country.
Remittance Markets In Africa
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Author : Sanket Mohapatra
language : en
Publisher: World Bank Publications
Release Date : 2011-01-01
Remittance Markets In Africa written by Sanket Mohapatra and has been published by World Bank Publications this book supported file pdf, txt, epub, kindle and other format this book has been release on 2011-01-01 with Social Science categories.
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.
Latin American Economic Outlook 2010
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Author : OECD
language : en
Publisher: OECD Publishing
Release Date : 2009-11-30
Latin American Economic Outlook 2010 written by OECD and has been published by OECD Publishing this book supported file pdf, txt, epub, kindle and other format this book has been release on 2009-11-30 with categories.
The OECD Latin American Economic Outlook 2010 provides a fresh analysis of economic trends in the region with a particular focus on the role that international migration and remittances play in shaping the current context.
Banking The World
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Author : Robert Cull
language : en
Publisher: MIT Press
Release Date : 2021-08-03
Banking The World written by Robert Cull and has been published by MIT Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2021-08-03 with Business & Economics categories.
Experts report on the latest research on extending access to financial services to the 2.5 billion adults around the world who lack it. About 2.5 billion adults, just over half the world's adult population, lack bank accounts. If we are to realize the goal of extending banking and other financial services to this vast “unbanked” population, we need to consider not only such product innovations as microfinance and mobile banking but also issues of data accuracy, impact assessment, risk mitigation, technology adaptation, financial literacy, and local context. In Banking the World, experts take up these topics, reporting on new research that will guide both policy makers and scholars in a broader push to extend financial markets. The contributors consider such topics as the complexity of surveying people about their use of financial services; evidence of the impact of financial services on income; the occasional negative effects of financial services on poor households, including disincentives to work and overindebtedness; and tools for improving access such as nontraditional credit scores, financial incentives for banking, and identification technologies that can dramatically reduce loan default rates.
Sub Saharan African Migration
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Author : Mr.Jesus R Gonzalez-Garcia
language : en
Publisher: International Monetary Fund
Release Date : 2016-11-02
Sub Saharan African Migration written by Mr.Jesus R Gonzalez-Garcia and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2016-11-02 with Social Science categories.
Amid rapid population growth, migration in sub-Saharan Africa has been increasing briskly over the last 20 years. Up to the 1990s, the stock of migrants—citizens of one country living in another country—was dominated by intraregional migration, but over the last 15 years, migration outside the region has picked up sharply. In the coming decades, sub-Saharan African migration will be shaped by an ongoing demographic transition involving an enlargement of the working-age population, and migration outside the region, in particular to advanced economies, is set to continue expanding. This note explores the main drivers of sub-Saharan African migration, focusing on migration outside the region, as this has greater global spillovers. It finds that the economic impact of migration for the region occurs mainly through two channels. First, the migration of young and educated workers—brain drain—takes a toll as human capital is already scarce in the region, although some recent studies suggest that migration may have also a positive effect—brain gain. Second, remittances represent an important source of foreign exchange and income in a number of sub-Saharan African countries, contribute to the alleviation of poverty, and help smooth business cycles.
Migration And Remittances During The Global Financial Crisis And Beyond
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Author : Ibrahim Sirkeci
language : en
Publisher: World Bank Publications
Release Date : 2012-05-31
Migration And Remittances During The Global Financial Crisis And Beyond written by Ibrahim Sirkeci and has been published by World Bank Publications this book supported file pdf, txt, epub, kindle and other format this book has been release on 2012-05-31 with Business & Economics categories.
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.
India Migration Report 2012
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Author : S. Irudaya Rajan
language : en
Publisher: Routledge
Release Date : 2014-03-21
India Migration Report 2012 written by S. Irudaya Rajan and has been published by Routledge this book supported file pdf, txt, epub, kindle and other format this book has been release on 2014-03-21 with Social Science categories.
This volume is a collection of articles dealing with various dimensions of the Global Financial Crisis and its economic and social impact in terms of governance, emigration, remittances, return migration and re-integration. The crisis, which had its origin in the United States in 2008, spread its economic effects on developed as well as developing countries. Some of these countries were able to recover in the short run while some are in the process of recovery, with continuous efforts by both national governments and international agencies. In this backdrop, is there any impact on the outflow of emigrants from the countries of origin and inflow of remittances to the countries of destination? The third volume in the annual series ‘India Migration Report’ answers the question through rigorous quantitative and qualitative analyses and fieldwork both in the Gulf region and South Asia, and concludes that both emigration and remittances are more resilient than expected. This report: contains findings based on an extensive survey conducted in Kerala; has additional evaluations based on other surveys and case studies conducted in different parts of India, Pakistan, Bangladesh, Nepal and Sri Lanka to reflect on the consequences of the global crisis on the countries of origin, as well as a quick assessment and site visits to the United Arab Emirates, Kuwait, Qatar and Malaysia; includes essays that examine the linkages between emigration and remittances based on international data from the World Bank, the International Labour Organization, the International Organization of Migration, the United Nations and other organizations that closely deal with international migration. It will be of interest to students and scholars of migration studies, sociology, law, economics, gender studies, diaspora studies, international relations and demography, apart from non-governmental organizations, policy-makers and government institutions working in the field of migration.
The Routledge Handbook Of Poverty In The Global South
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Author : Rajendra Baikady
language : en
Publisher: Taylor & Francis
Release Date : 2023-12-01
The Routledge Handbook Of Poverty In The Global South written by Rajendra Baikady and has been published by Taylor & Francis this book supported file pdf, txt, epub, kindle and other format this book has been release on 2023-12-01 with Political Science categories.
This handbook initiates fresh debates on poverty and its impact in a constantly changing Global South society. It studies the concept, theories, and causes of poverty, as well as the design and delivery of social welfare policies related to specific groups, such as women, children, and the elderly. The chapters are theoretical, evidence-based, and empirical in nature and bring together a holistic understanding of social problems and issues in developing countries. The volume brings together researchers, educators, and practitioners from across the globe to develop a hands-on reference work that will be requisite for several social science disciplines concerned with poverty and the welfare of poor people. The first of its kind, the handbook will be indispensable for scholars and researchers of development studies, economics, social work, political studies, poverty studies, population and demographic studies, sociology, social anthropology, public policy, and political economy, especially those concerned with the Global South.