Three Essays on the Impacts of Risk and Uncertainty on Foreign
... instability such as exchange rate risk and inflation, as well as political risk arising from
corruption and political instability to be strong deterrents o f FDI inflows into Africa. In
general, when investing in developing economies, investors are mostly concerned with
political and institutional f ...
... particular, good governance and solid institutional and regulatory frameworks play a key role in attracting inflows over periods longer than the usual business cycle. At the same time, having deeper
domestic financial markets with a large and stable domestic investor base, as well as allowing for
The Gift Revisited: Marcel Mauss on War, Debt and
... Pierre Birbaum (1998) has called this generation of intellectuals, for “Jews of the State”11
(“Juif d’Etat”) e.g. “secularized Jews devoted to the public service of their country who,
integrated into French society by and through the Republic, identified completely with
the laic universalism of the ...
Outline for - World Bank Group
... What is the role of international remittances in the economic development of recipient countries?
This important question is not completely new, and some answers have already been provided by
the large literature on aid effectiveness: the positive or negative effects of remittances on
economic devel ...
dealing with foreign exchange
... bank’s goal should be maintaining an optimal level of reserves, disallowing politicians taking
mileage from it. The current level of reserves should also worry the policymakers as they are
partly accumulated due to slowdown in import growth, in turn slackening of economic activities.
More importantl ...
A general equilibrium analysis of remittances, labor supply
... editors, two anonymous referees, participants of the 2007 GTAP conference at Purdue University, and
participants of the 2007 LACEA conference at the Universidad de los Andes for useful comments and
suggestions. We also thank Sudhanshu Handa and Damien King for sharing key data.
International Conference on Economic and Social Studies, 10
... sector less competitive, resulting in less competitive country and even reduced exports in
natural resources sector. Dutch Disease model was suggested by Corden and Neary (1983).
The model consists of three sectors: non-tradable sector (service sector), the manufacturing
sector and resources sector ...
Remittances and Reverse Flows in Developing Countries
... This paper attempts to bridge the gap in the literature by determining, for a sample of remittance-receiving
developing countries, what proportion of remittance flows have historically been diverted to reverse flows.
This is done by first estimating the effect of remittance flows on consumption, inv ...
1 Follow the Money: Remittance Responses to FDI Inflows Michael
... pure altruism, pure self-interest, and tempered altruism or enlightened self-interest. Remittances
based on pure altruism are typically linked to increased consumption expenditures of receiving
households. Remittances based on self-interest of the migrant are more likely to be linked to
domestic inv ...
Full Text ( Final Version , 158kb )
... data for all the variables of interest. He focuses on how external shocks affected the dollarized
economy, choosing as shocks´ variables the current account reversals and terms of trade
shocks and investigate their impact on economic growth. As Goldfajn and Olivares (2001),
he made the analysis in a ...
Risk Sharing through Remittances: Evidence from
... On the specific question of cyclicality of remittances, there is a growing evidence that
largely point towards countercyclicality (or low procyclicality) of remittance flows.4 To cite
few examples: Spatafora (2005) documents a negative relationship between remittances and
domestic output in a panel ...
Impact of remittances on economic growth in ASEAN - DUO
... Remittances are the flow of money from migrants abroad to their families in their country of
origin (Koser, 2007). The flows of remittances have increased significantly during recent
decades and are expected to continue increasing into the foreseeable future as more people
migrates in response to gl ...
Remittances and the Real Exchange Rate
... remittances as a positive shock to the economy, then the real appreciation and related effects
experimented by the receiving country would simply be part of the inevitable relative price
adjustment process that goes with favorable shocks. Yet if this real appreciation is very dramatic,
or the adjust ...
Remittances, capital flows and financial
... partially oﬀset the lack of financial development in emigration countries by
allowing poor people to invest in high-return projects. On the other hand,
the complementarity hypothesis argues that there is a positive interaction
between remittances and financial development. High levels of financial
Migrant Worker Remittance Payments
... identifies price-level ratios and purchasing power parity as main determinants of remittances
stating that “…price-level ratios between remittance-sending and remittance-receiving countries
could also influence motivations to remit. Migrants are often acutely aware that the money they
spend in the c ...
... Results weigh against the claim that the government and the
Central Bank directly manipulated the exchange rate.
Policymakers and monetary authorities should take the
natures and magnitudes of these relationships into account
when designing monetary and/or macroeconomic policies to
facilitate re ...
Migration, remittances and the brain drain
... These studies have certainly provided us with a broader view of how remittance flows are
determined. However, there is sill a great scope for improving our current understanding of the
issue. One of the factors that deserve more attention is the impact of the education level of
migrant workers on re ...
Remittances and Trade Balance: Evidence from
... in less financially developed countries. Other studies like (Mundaca, 2005) do not observe the
marginal differences between financially developed and under developed economies on the
positive impact of remittances; for a sample of Latin American countries, he concludes that
remittances have a signif ...
How Does the Flow of Remittances Affect the Trade
... The import-triggering effects of remittances (the boomerang effect) have been observed in Latin
America and Sub-Saharan Africa (Organisation for Economic Co-operation and Development
[OECD], 2006), but studies on the MENA region are limited and have mixed findings. For
example, Kandil and Mirzaie (2 ...
Diasporas and Dollars
... Third World governments have long depended on foreign funding to supplement limited
domestic private and official sources. Foreign sources include financing from private,
public, bilateral, and multilateral institutions, as well as direct investment. Governments
have also depended on foreign exchang ...
Terrorism and Worker`s Remittances in Pakistan
... into their home countries. According to Ratha (2003) remittances is the sum of three
components, first workers remittances under the heading of “current transfer” in the current
account of BOP, second employee’s compensation under the heading of “ income” , which
consist of wages, salaries, and some ...
Increasing the Macroeconomic Impact of Remittances
... remittances to be leveraged for improving financial access of migrants, their beneficiaries, and the
financial intermediaries in the origin countries. The benefits of remittances for development are,
however, conditional upon the broader economic and political context.
This background paper reviews ...
... • 2009, global IT spending expected to decline by 4.7 %
• largest dip in IT budgets, likely in professional, telecom,
technology at 10 %, manufacturing at 8 %, utilities and
financial services - 4 %
• However longer term perspective, resillience and recovery
• NASSCOM estimates crisis impact in 2009 ...
Macroeconomic Determinants of Remittances in South Asian
... In addition to microeconomic and macroeconomic factors, remittance inflows are motivated
by the following factors. First, remittances may be motivated by altruism. Altruism as defined
in the Cambridge University Press Dictionary Online is ‘willingness to do things which
benefit other people, even if ...
""Gifting remittances"" describes a range of scholarly approaches relating remittances to anthropological literature on gift giving. The terms draws on Lisa Cliggett’s “gift remitting,” but is used to describe a wider body of work. Broadly speaking, remittances are the money, goods, services, and knowledge that migrants send back to their home communities or families. Remittances are typically considered as the economic transactions from migrants to those at home. While remittances are also a subject of international development and policy debate and sociological and economic literature, this article focuses on ties with literature on gifting and reciprocity or gift economy founded largely in the work of Marcel Mauss and Marshall Sahlins. While this entry focuses on remittances of money or goods, remittances also take the form of ideas and knowledge. For more on these, see Peggy Levitt's work on ""social remittances"" which she defines as “the ideas, behaviors, identities, and social capital that flow from receiving to sending country communities.”