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Are Remittances Manna From Heaven A Look At The Business Cycle Properties Of Remittances
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Book Synopsis Are Remittances Manna from Heaven? A Look at the Business Cycle Properties of Remittances by : Carlos Vargas-Silva
Download or read book Are Remittances Manna from Heaven? A Look at the Business Cycle Properties of Remittances written by Carlos Vargas-Silva and published by . This book was released on 2008 with total page 37 pages. Available in PDF, EPUB and Kindle. Book excerpt: This article documents the business cycle properties of workers' remittance flows to Mexico. We also discuss key differences between the cyclical properties of remittance inflows and the cyclical properties of foreign direct investment (FDI). We find evidence that remittances are countercyclical with respect to Mexico's business cycle. However, this result is not robust to the use of different measures of remittances. The lack of a robust relationship between remittances and Mexico's business cycle, suggests that the use of remittances to smooth cyclical fluctuations in output may not be a straightforward strategy.
Book Synopsis What’s Different about Monetary Policy Transmission in Remittance-Dependent Countries? by : Mr.Adolfo Barajas
Download or read book What’s Different about Monetary Policy Transmission in Remittance-Dependent Countries? written by Mr.Adolfo Barajas and published by International Monetary Fund. This book was released on 2016-03-01 with total page 41 pages. Available in PDF, EPUB and Kindle. Book excerpt: Despite welfare and poverty-reducing benefits for recipient households, remittance inflows have been shown to entail macroeconomic challenges; producing Dutch Disease-type effects through their upward (appreciation) pressure on real exchange rates, reducing the quality of institutions, delaying fiscal adjustment, and ultimately having an indeterminate effect on long-run growth. The paper explores an additional challenge, for monetary policy. Although they expand bank balance sheets, providing a stable flow of interest-insensitive funding, remittances tend to increase banks’ holdings of liquid assets. This both reduces the need for an interbank market and severs the link between the policy rate and banks’ marginal costs of funds, thus shutting down a major transmission channel. We develop a stylized model based on asymmetric information and a lack of transparent borrowers and undertake econometric analysis providing evidence that increased remittance inflows are associated with a weaker transmission. As independent monetary policy becomes impaired, this result is consistent with earlier findings that recipient countries tend to favor fixed exchange rate regimes.
Book Synopsis The Political Economy of South Asian Diaspora by : G. Pillai
Download or read book The Political Economy of South Asian Diaspora written by G. Pillai and published by Springer. This book was released on 2013-10-31 with total page 224 pages. Available in PDF, EPUB and Kindle. Book excerpt: The South Asian diaspora is a diverse group who settled in different parts of the world, often concentrated in developed countries. This volume explores how transnational politics overlap with religious ideologies, media and culture amongst the diaspora, contributing to diasporic identity building in host countries.
Book Synopsis South-South Globalization by : S. Mansoob Murshed
Download or read book South-South Globalization written by S. Mansoob Murshed and published by Routledge. This book was released on 2011-06-16 with total page 385 pages. Available in PDF, EPUB and Kindle. Book excerpt: Two prominent features of the current global economy are the world-wide recession brought about by the recent financial crisis, and the emergence of major economic powers from within the developing world such as Brazil, China and India. The former represents the failure of global regulatory policies and macroeconomic imbalances between surplus and deficit countries; the latter is symptomatic of a partial shift in economic power towards developing nations, who are often collectively labelled the global South. The macroeconomic imbalances are unsustainable in the longer run as they mean greater absorption relative to income in deficit nations; they require corrective action and international policy coordination. Reducing imbalances also requires large developing countries to raise their domestic consumption and also imports from the rest of the world and international financial institutions to operate as a lender of last resort. Furthermore, the engines of global growth, especially for developing countries, may no longer lie solely in the traditional developed country markets in the USA, Europe and Japan, known collectively as the global North. Rather South-South trade is growing rapidly, and that could be an engine of growth for the global economy, including both developed and developing countries. The various chapters in this edited volume address issues surrounding global imbalances and the prospects for growth in developing countries propelled by South-South interaction. This book should be of interest to students and researchers focussing on political economics, international economics, globalization, global imbalance and the world-wide recession after 2008.
Book Synopsis The Political Economy of Global Manufacturing, Business and Finance by : Michael Tribe
Download or read book The Political Economy of Global Manufacturing, Business and Finance written by Michael Tribe and published by Springer Nature. This book was released on 2023-04-21 with total page 343 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book is written as a tribute to Frederick Nixson’s extensive work on industrial development in the Global South, while seeking to actively engage with the latest arguments concerning development economics, together with changes in manufacturing and industrial policy that continue to shape the role of the Global South in the international economy, the impact of the increased concentration of global multinational corporations in that space, along with the rise of new financing tools and debt traps. The chapters pay homage to Fred’s broad view of the international development process and reflect his breadth of perception both theoretically and geographically. The book targets both the scholarly and policymaking audience.
Download or read book Border-lines written by and published by . This book was released on 2011 with total page 316 pages. Available in PDF, EPUB and Kindle. Book excerpt: Border-Lines is an interdisciplinary academic journal dedicated to the dissemination of research on Chicana/o-Latina/o cultural, political, and social issues
Book Synopsis Do Remittances to Latin America Depend on the U.S. Business Cycle? by : Shaun K. Roache
Download or read book Do Remittances to Latin America Depend on the U.S. Business Cycle? written by Shaun K. Roache and published by International Monetary Fund. This book was released on 2007-12 with total page 38 pages. Available in PDF, EPUB and Kindle. Book excerpt: We use a range of methods and remittance data from 1990 to 2007 to assess the strength and significance of linkages between remittance flows to Latin America and the U.S. business cycle. All of the evidence suggests that remittance flows are relatively insensitive to fluctuations in the U.S. cycle, underlining their role as a stable source of external financing, in good times and bad. A number of factors, notwithstanding uncertainties related to official remittance data reliability, might explain this result, including remittance smoothing and flexible immigrant labor markets.
Book Synopsis Workers’ Remittances by : Mr.Adolfo Barajas
Download or read book Workers’ Remittances written by Mr.Adolfo Barajas and published by International Monetary Fund. This book was released on 2012-10-19 with total page 25 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper shows that remittance flows significantly increase the business cycle synchronization between remittance-recipient countries and the rest of the world. Using both aggregate and bilateral remittances data in a panel data setting, the study demonstrates that this effect is robust and causal. Moreover, the econometric analysis reveals that remittance flows are more effective in channeling economic downturns than upswings from the sending countries to remittance-receiving economies. The analysis suggests that measures of openness and spillovers could be enhanced by accounting for the role of the remittances channel.
Book Synopsis Remittances and Vulnerability in Developing Countries by : Giulia Bettin
Download or read book Remittances and Vulnerability in Developing Countries written by Giulia Bettin and published by International Monetary Fund. This book was released on 2014-01-27 with total page 33 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper examines how international remittances are affected by structural characteristics, macroeconomic conditions, and adverse shocks in both source and recipient economies. We exploit a novel, rich panel data set, covering bilateral remittances from 103 Italian provinces to 107 developing countries over the period 2005-2011. We find that remittances are negatively correlated with the business cycle in recipient countries, and increase in response to adverse exogenous shocks, such as natural disasters or large declines in the terms of trade. Remittances are positively correlated with economic conditions in the source province. Nevertheless, in the presence of similar negative shocks to both source and recipient economies, remittances remain counter-cyclical with respect to the recipient country.
Book Synopsis Remittances and Vulnerability in Developing Countries by : Giulia Bettin
Download or read book Remittances and Vulnerability in Developing Countries written by Giulia Bettin and published by . This book was released on 2017 with total page 30 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper examines how international remittances are affected by structural characteristics, macroeconomic conditions, and adverse shocks in both source and recipient economies. The paper exploits a novel, rich panel data set, covering bilateral remittances from 103 Italian provinces to 87 developing countries over the period 2005-2011. Remittances are negatively correlated with the business cycle in recipient countries and increase especially strongly in response to adverse exogenous shocks, such as natural disasters or large terms-of-trade declines. Financial development in the source economy, which eases access to financial services for migrants and reduces transaction costs, is positively associated with remittances. Conversely, recipient-country financial development is negatively associated with remittances, suggesting that remittances help alleviate credit constraints.
Book Synopsis The Global Political Economy of Israel by : Jonathan Nitzan
Download or read book The Global Political Economy of Israel written by Jonathan Nitzan and published by Pluto Press. This book was released on 2002-08-20 with total page 430 pages. Available in PDF, EPUB and Kindle. Book excerpt: The debate about globalisation and its discontents
Book Synopsis Addressing the Natural Resource Curse by : Mr.Arvind Subramanian
Download or read book Addressing the Natural Resource Curse written by Mr.Arvind Subramanian and published by International Monetary Fund. This book was released on 2003-07-01 with total page 47 pages. Available in PDF, EPUB and Kindle. Book excerpt: Some natural resources-oil and minerals in particular-exert a negative and nonlinear impact on growth via their deleterious impact on institutional quality. We show this result to be very robust. The Nigerian experience provides telling confirmation of this aspect of natural resources. Waste and poor institutional quality stemming from oil appear to have been primarily responsible for Nigeria's poor long-run economic performance. We propose a solution for addressing this resource curse which involves directly distributing the oil revenues to the public. Even with all the difficulties that will no doubt plague its actual implementation, our proposal will, at the least, be vastly superior to the status quo. At best, however, it could fundamentally improve the quality of public institutions and, as a result, durably raise long-run growth performance.
Book Synopsis The Migration Myth in Policy and Practice by : AKM Ahsan Ullah
Download or read book The Migration Myth in Policy and Practice written by AKM Ahsan Ullah and published by Springer Nature. This book was released on 2020-01-01 with total page 221 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book investigates the long-term impact of migration on development, engaging in a thorough analysis of the pertinent factors in migration. Migration scholars and stakeholders have long placed emphasis on the necessity of migration for development. At the heart of this book is the question: Has migration made development necessary, or is it the other way around? While existing literature is predominantly occupied with positive impressions about the migration-development nexus, this book challenges associated pervasive generalizations about the impact of migration, indicating that migration has not impacted all regions equally. This volume thus grapples with the different extents to which migration has impacted development by delving into the social costs that migrants often pay in the long run. With empirical support, this book proffers that some countries are becoming over-dependent on migration. An excellent resource for both policymakers working on migration policy, and scholars in international relations, migration and development studies, this book presents a range of innovative ideas in relation to the remittance-development nexus.
Book Synopsis The End of Development by : Andrew Brooks
Download or read book The End of Development written by Andrew Brooks and published by Zed Books Ltd.. This book was released on 2017-05-15 with total page 129 pages. Available in PDF, EPUB and Kindle. Book excerpt: Why did some countries grow rich while others remained poor? Human history unfolded differently across the globe. The world is separated in to places of poverty and prosperity. Tracing the long arc of human history from hunter gatherer societies to the early twenty first century in an argument grounded in a deep understanding of geography, Andrew Brooks rejects popular explanations for the divergence of nations. This accessible and illuminating volume shows how the wealth of ‘the West’ and poverty of ‘the rest’ stem not from environmental factors or some unique European cultural, social or technological qualities, but from the expansion of colonialism and the rise of America. Brooks puts the case that international inequality was moulded by capitalist development over the last 500 years. After the Second World War, international aid projects failed to close the gap between ‘developed’ and ‘developing’ nations and millions remain impoverished. Rather than address the root causes of inequality, overseas development assistance exacerbate the problems of an uneven world by imposing crippling debts and destructive neoliberal policies on poor countries. But this flawed form of development is now coming to an end, as the emerging economies of Asia and Africa begin to assert themselves on the world stage. The End of Development provides a compelling account of how human history unfolded differently in varied regions of the world. Brooks argues that we must now seize the opportunity afforded by today’s changing economic geography to transform attitudes towards inequality and to develop radical new approaches to addressing global poverty, as the alternative is to accept that impoverishment is somehow part of the natural order of things.
Book Synopsis Wealth, Poverty and Politics by : Thomas Sowell
Download or read book Wealth, Poverty and Politics written by Thomas Sowell and published by Basic Books. This book was released on 2016-09-06 with total page 258 pages. Available in PDF, EPUB and Kindle. Book excerpt: In Wealth, Poverty, and Politics, Thomas Sowell, one of the foremost conservative public intellectuals in this country, argues that political and ideological struggles have led to dangerous confusion about income inequality in America. Pundits and politically motivated economists trumpet ambiguous statistics and sensational theories while ignoring the true determinant of income inequality: the production of wealth. We cannot properly understand inequality if we focus exclusively on the distribution of wealth and ignore wealth production factors such as geography, demography, and culture. Sowell contends that liberals have a particular interest in misreading the data and chastises them for using income inequality as an argument for the welfare state. Refuting Thomas Piketty, Paul Krugman, and others on the left, Sowell draws on accurate empirical data to show that the inequality is not nearly as extreme or sensational as we have been led to believe. Transcending partisanship through a careful examination of data, Wealth, Poverty, and Politics reveals the truth about the most explosive political issue of our time.
Book Synopsis Remittances and Development by : Pablo Fajnzylber
Download or read book Remittances and Development written by Pablo Fajnzylber and published by World Bank Publications. This book was released on 2008-02-08 with total page 410 pages. Available in PDF, EPUB and Kindle. Book excerpt: Workers' remittances have become a major source of financing for developing countries and are especially important in Latin America and the Caribbean, which is at the top of the ranking of remittance receiving regions in the world. While there has been a recent surge in analytical work on the topic, this book is motivated by the large heterogeneity in migration and remittance patterns across countries and regions, and by the fact that existing evidence for Latin America and the Caribbean is restricted to only a few countries, such as Mexico and El Salvador. Because the nature of the phenomenon varies across countries, its development impact and policy implications are also likely to differ in ways that are still largely unknown. This book helps fill the gap by exploring, in the specific context of Latin America and Caribbean countries, some of the main questions faced by policymakers when trying to respond to increasing remittances flows. The book relies on cross-country panel data and household surveys for 11 Latin American countries to explore the development impact of remittance flows along several dimensions: growth, poverty, inequality, schooling, health, labor supply, financial development, and real exchange rates.
Book Synopsis Migration and Economic Growth by : Mathias Czaika
Download or read book Migration and Economic Growth written by Mathias Czaika and published by . This book was released on 2012 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book comprehensively examines the role of economic growth (or lack of) as a driver of migration, as well as the impact of migration on economic growth in receiving and sending countries. Seminal papers have been selected which cover both, direct and indirect effects, as well as theoretical and empirical contributions. This important collection, along with an original introduction by the editors, provides a combination of the classical works and topics with the latest contributions and discussions. It is a comprehensive introduction for those interested in learning about the topic and an excellent source of reference for experts.
