Macroeconomic Consequences of Remittances - read free eBook in online reader or directly download on the web page. Select files or add your book in reader. Download and read online ebook Macroeconomic Consequences of Remittances write by Connel Fullenkamp. This book was released on 2008-03-11. Macroeconomic Consequences of Remittances available in PDF, EPUB and Kindle. 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.
Determinants and Macroeconomic Impact of Remittances in Sub-Saharan Africa
Determinants and Macroeconomic Impact of Remittances in Sub-Saharan Africa - read free eBook in online reader or directly download on the web page. Select files or add your book in reader. Download and read online ebook Determinants and Macroeconomic Impact of Remittances in Sub-Saharan Africa write by Kyung-woo Lee. This book was released on 2009-10-01. Determinants and Macroeconomic Impact of Remittances in Sub-Saharan Africa available in PDF, EPUB and Kindle. 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.
The Impact of Remittances on Economic Activity: The Importance of Sectoral Linkages
The Impact of Remittances on Economic Activity: The Importance of Sectoral Linkages - read free eBook in online reader or directly download on the web page. Select files or add your book in reader. Download and read online ebook The Impact of Remittances on Economic Activity: The Importance of Sectoral Linkages write by Hector Perez-Saiz. This book was released on 2019-08-16. The Impact of Remittances on Economic Activity: The Importance of Sectoral Linkages available in PDF, EPUB and Kindle. 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.
Essays on the Macroeconomic Consequences of Remittances in Developing Countries
Essays on the Macroeconomic Consequences of Remittances in Developing Countries - read free eBook in online reader or directly download on the web page. Select files or add your book in reader. Download and read online ebook Essays on the Macroeconomic Consequences of Remittances in Developing Countries write by Christian Hubert Xavier Camille Ebeke. This book was released on 2011. Essays on the Macroeconomic Consequences of Remittances in Developing Countries available in PDF, EPUB and Kindle. This thesis focused on the consequences of remittance inflows in developing countries. The first partexplored the causal impacts of remittances on some indicators of aggregate welfare while the secondpart examined the effects of remittances on public policy. Several results emerged. First, remittanceinflows help reduce the proportion of individuals selling low wages and this effect is stronger in acontext of low level of financial development, high macroeconomic instability and less unpredictableremittances (Chapter 1). Second, remittances have a robust stabilizing impact on the privateconsumption. However, this effect tends to decrease with the levels of remittance inflows and financialdevelopment. Moreover, remittance-Dependent economies seem to be strongly sheltered against thedamaging effects of various types of shocks affecting consumption (Chapter 2). In Chapter 3, theresults highlighted that remittance inflows dampen the positive effect of natural disasters on the outputgrowth volatility. However, this impact was strongly reduced as the level of remittances increased.The second part of the thesis revealed interesting results regarding the effects of remittance inflows onpublic policy. First, remittance inflows reduce the insurance role played by the governmentconsumption in more open economies and this effect is more likely to hold when remittances exhibit acountercyclical behavior (Chapter 4). In Chapter 5, the results showed that the fiscal retrenchmentinduced by remittance inflows, is particularly marked for the public education and health spending incountries characterized by various types of governance problems. Finally, the thesis showed that theeffects of remittances do not only concern the expenditure side but also the revenue side. Remittancesare more likely to increase the fiscal space in receiving economies that rely on the value added taxsystem. In these countries, remittance inflows help increase both the level and the stability of thegovernment tax revenue ratio (Chapter 6).
The Macroeconomics of Remittances: the Case of Tajikistan
The Macroeconomics of Remittances: the Case of Tajikistan - read free eBook in online reader or directly download on the web page. Select files or add your book in reader. Download and read online ebook The Macroeconomics of Remittances: the Case of Tajikistan write by Alexei Kireyev. This book was released on 2006-01-01. The Macroeconomics of Remittances: the Case of Tajikistan available in PDF, EPUB and Kindle. 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.
