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Author : Matteo Bugamelli
Publisher :
ISBN 13 :
Total Pages : 46 pages
Book Rating : 4.X/5 (3 download)
Download or read book Output Growth Volatility and Remittances written by Matteo Bugamelli and published by . This book was released on 2008 with total page 46 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Amr Hosny
Publisher : International Monetary Fund
ISBN 13 : 1513525883
Total Pages : 22 pages
Book Rating : 4.5/5 (135 download)
Download or read book Remittance Concentration and Volatility: Evidence from 72 Developing Countries written by Amr Hosny and published by International Monetary Fund. This book was released on 2020-01-17 with total page 22 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.
Author : Anna Miller
Publisher : GRIN Verlag
ISBN 13 : 365642750X
Total Pages : 14 pages
Book Rating : 4.6/5 (564 download)
Download or read book Do Workers' Remittances Bring Economic Growth to Receiving Countries? written by Anna Miller and published by GRIN Verlag. This book was released on 2013-05-13 with total page 14 pages. Available in PDF, EPUB and Kindle. Book excerpt: Seminar paper from the year 2013 in the subject Economics - Job market economics, grade: 64%, University of Nottingham (Economics), course: MSc in Applied Economics and Financial Economics, language: English, abstract: Besides foreign direct investment (FDI) and capital market flows, workers’ remittances are another external channel for capital flows. According to the OECD, remittances to developing countries amounted to US$ 149.4 billion in the year 2002. However, whereas FDI and capital market flows are subject to variation due to recessions in home countries, remittances are steadily rising every year (OECD, 2006), reaching an amount of about UD$ 300 billion in the year 2007 (Barajas et al., 2009). To give a brief definition, remittances are money transfers from migrants working abroad to their families in their home countries. Yet, the question is, do these remittances contribute to or boost economic growth in receiving countries or are they only a means to increase the migrants’ families’ welfare by directly reducing their poverty and raising the living standard (Rao and Hassan, 2011). In other words, are remittances mostly used for consumption or do they rather flow in education, and thereby contribute to the human capital, and in investments, thus increasing the capital stock in the economy (Giuliano and Ruiz-Arranz, 2009)? From the growth theory we know that consumption does not have any impact on growth, only investments, either in production or in human capital, can affect long-run growth. Evidence from Indonesia, Ecuador, and Argentina (Sayan, 2006) shows that remittances indirectly reduce volatility of growth of output in times of crises and increase the growth rate thereby (Rao and Hassan, 2011). In contrast, Sayan (2006) found that remittances are moving procyclically with out in recipient countries, boosting incomes during booms, but reducing them even more during recessions and thus magnifying the economic crisis. This paper examines the relationship between remittances and GDP growth using in a macro panel with 67 countries and a time period of 28 years, from 1975 through 2002, as well as a cross-section analysis for comparison. The goal of this analysis is to determine whether, and to what extent, remittances have an impact on long-term economic growth and, if so, whether this relation is significant or not.
Author : Mr.Christian Ebeke
Publisher : International Monetary Fund
ISBN 13 : 1498348408
Total Pages : 20 pages
Book Rating : 4.4/5 (983 download)
Download or read book Credit Quality in Developing Economies written by Mr.Christian Ebeke and published by International Monetary Fund. This book was released on 2014-08-08 with total page 20 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper analyzes the link between remittances inflows and nonperforming loans (NPLs) in a large sample of developing countries. Theoretical transmission channels include risk coping, exchange rate and growth impacts. Panel data estimates uncover the significant role of remittance inflows in reducing the size of NPLs in recipient economies. Econometric results also indicate a stronger marginal impact of remittances in a context of high macroeconomic instability, suggesting a significant effect of remittances on the likelihood of the private sector’s credit default during shocks. These results hold even after factoring in: (i) the endogeneity of remittance inflows and, (ii) the use of an alternative estimator (panel fractional logit) aimed at dealing with bounded dependent variables.
Author : Ahmat Jidoud
Publisher : International Monetary Fund
ISBN 13 : 1498300944
Total Pages : 37 pages
Book Rating : 4.4/5 (983 download)
Download or read book Remittances and Macroeconomic Volatility in African Countries written by Ahmat Jidoud and published by International Monetary Fund. This book was released on 2015-03-02 with total page 37 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper investigates the channels through which remittances affect macroeconomic volatility in African countries using a dynamic stochastic general equilibrium (DSGE) model augmented with financial frictions. Empirical results indicate that remittances—as a share of GDP—have a significant smoothing impact on output volatility but their impact on consumption volatility is somewhat small. Furthermore, remittances are found to absorb a substantial amount of GDP shocks in these countries. An investigation of the theoretical channels shows that the stabilization impact of remittances essentially hinges on two channels: (i) the size of the negative wealth effect on labor supply induced by remittances and, (ii) the strength of financial frictions and the ability of remittances to alleviate these frictions.
Author : Ralph Chami
Publisher : International Monetary Fund
ISBN 13 :
Total Pages : 34 pages
Book Rating : 4.3/5 ( download)
Download or read book Remittances written by Ralph Chami and published by International Monetary Fund. This book was released on 2009-04 with total page 34 pages. Available in PDF, EPUB and Kindle. Book excerpt: Remittance flows appear to be falling worldwide for the first time in decades as a result of the ongoing financial turmoil. It is suspected that the drop in remittance income into developing and emerging markets will have a destabilizing effect on these economies. The paper estimates the impact of remittances on output stability for countries that are dependent on these income flows. Using a sample of 70 countries, including 16 advanced economies and 54 developing countries, we find robust evidence that remittances have a negative effect on output growth volatility of recipient countries. This result supports the notion that remittance flows are a stabilizing influence on output. Thus, the fall in remittances precipitated by the ongoing global financial crisis could potentially increase output variability in recipient countries. This would present a hard challenge for governments in those countries already suffering from the crisis: they must resort to an already stressed and limited set of policy instruments, such as fiscal policy, to counter the resulting adverse economic and social impacts of lower remittances.
Author : Connel Fullenkamp
Publisher : International Monetary Fund
ISBN 13 : 1589067010
Total Pages : 94 pages
Book Rating : 4.5/5 (89 download)
Download or read book Macroeconomic Consequences of Remittances written by Connel Fullenkamp and published by International Monetary Fund. This book was released on 2008-03-11 with total page 94 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.
Author : Hector Perez-Saiz
Publisher : International Monetary Fund
ISBN 13 : 1498324487
Total Pages : 37 pages
Book Rating : 4.4/5 (983 download)
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.
Author : M. Ali Kemal
Publisher :
ISBN 13 :
Total Pages : 40 pages
Book Rating : 4.F/5 ( download)
Download or read book Exchange Rate Instability and Trade written by M. Ali Kemal and published by . This book was released on 2005 with total page 40 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Hector Perez-Saiz
Publisher : International Monetary Fund
ISBN 13 : 1513511483
Total Pages : 37 pages
Book Rating : 4.5/5 (135 download)
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.
Author : Ms.Kimberly Beaton
Publisher : International Monetary Fund
ISBN 13 : 1484311787
Total Pages : 39 pages
Book Rating : 4.4/5 (843 download)
Download or read book Smooth Operator: Remittances and Fiscal Shocks written by Ms.Kimberly Beaton and published by International Monetary Fund. This book was released on 2017-07-21 with total page 39 pages. Available in PDF, EPUB and Kindle. Book excerpt: With 250 million migrants globally, remittances are one of the major sources of income in many developing countries. While there is abundant evidence that remittances facilitate consumption smoothing in receving countries, the literature has not considered whether this effect varies with the fiscal stance and during fiscal shocks. Therefore, we investigate the impact of remittances on the stability of household consumption, using both cross-country and household-level datasets. Our focus is on whether the consumption-smoothing effect changes with fiscal policy phases and whether remittances and government support are substitutes or complements in stabilizing household consumption. We find that remittances help smooth consumption, and hence improve welfare, more during fiscal consolidation episodes, while this impact is insignificant during fiscal expansions. The results also indicate that the effect is more pronounced in countries with greater reliance on remittances.
Author : Kyung-woo Lee
Publisher : International Monetary Fund
ISBN 13 : 1451873638
Total Pages : 28 pages
Book Rating : 4.4/5 (518 download)
Download or read book Determinants and Macroeconomic Impact of Remittances in Sub-Saharan Africa written by Kyung-woo Lee and published by International Monetary Fund. This book was released on 2009-10-01 with total page 28 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.
Author :
Publisher : World Bank Publications
ISBN 13 : 082136345X
Total Pages : 182 pages
Book Rating : 4.8/5 (213 download)
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.
Author : International Monetary Fund
Publisher : International Monetary Fund
ISBN 13 : 1455212563
Total Pages : 20 pages
Book Rating : 4.4/5 (552 download)
Download or read book Determinants of Remittances written by International Monetary Fund and published by International Monetary Fund. This book was released on 2011-01-01 with total page 20 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper analyzes the determinants of remittances to Tonga. The results indicate that macroeconomic conditions in remitting countries and exchange rate fluctuations influence remittances. In particular, remittances growth falls when the Tongan currency appreciates, but increases with higher real GDP growth and lower unemployment in remitting countries. The analysis also finds that the influence of these determinants varies with the recipients of remittances, with remittances to non-profit organizations being more sensitive to an appreciation of the Tongan currency and the interest rate differential between Tonga and remitting countries than remittances to households. However, the analysis does not find evidence of "?Dutch Disease" in Tonga, as the real exchange rate does not appear to be affected by remittances.
Author : Iolanda Lo Cascio
Publisher :
ISBN 13 :
Total Pages : 0 pages
Book Rating : 4.:/5 (137 download)
Download or read book Decline in US Output Growth Volatility written by Iolanda Lo Cascio and published by . This book was released on 2013 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: The aim of the paper is to determine (endogenously) whether the volatility of the US output growth rate has changed since the late 1940s. By applying the discrete wavelet transform to the annualized quarter-to-quarter output growth series, we test the homogeneity of the variance on a scale-by-scale basis. A version of the Normalized and Centered Cumulative Sum of Squares test, adapted to wavelets, leads us to reject the null of constant variance in the two levels of decomposition of the highest resolution and to locate a single break in 1982. The economic implications are explored.
Author : Samuel Munzele Maimbo
Publisher : World Bank Publications
ISBN 13 : 0821357948
Total Pages : 402 pages
Book Rating : 4.8/5 (213 download)
Download or read book Remittances written by Samuel Munzele Maimbo and published by World Bank Publications. This book was released on 2005 with total page 402 pages. Available in PDF, EPUB and Kindle. Book excerpt: Migrants have long faced unwarranted constraints to sending money to family members and relatives in their home countries, among them costly fees and commissions, inconvenient formal banking hours, and inefficient domestic banking services that delay final payment to the beneficiaries. Yet such remittances are perhaps the largest source of external finance in developing countries. Officially recorded remittance flows to developing countries exceeded US$125 billion in 2004, making them the second largest source of development finance after foreign direct investment. This book demonstrates that governments in developing countries increasingly recognize the importance of remittance flows and are quickly addressing these constraints.
Author : Pablo Fajnzylber
Publisher : World Bank Publications
ISBN 13 : 0821368710
Total Pages : 410 pages
Book Rating : 4.8/5 (213 download)
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.
