Macroeconomic consequences of remittances:
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 m...
Gespeichert in:
| Format: | Buch |
|---|---|
| Sprache: | English |
| Veröffentlicht: |
Washington, DC
International Monetary Fund
2008
|
| Schriftenreihe: | Occasional paper / International Monetary Fund
259 |
| Schlagworte: | |
| Online-Zugang: | Inhaltsverzeichnis |
| Zusammenfassung: | 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.--Publisher's description. |
| Beschreibung: | Also available on the World Wide Web. Includes bibliographical references |
| Beschreibung: | VII, 84 S. graph. Darst. 28 cm |
| ISBN: | 9781589067011 1589067010 |
Internformat
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| 245 | 1 | 0 | |a Macroeconomic consequences of remittances |c Ralph Chami ... [et al.] |
| 264 | 1 | |a Washington, DC |b International Monetary Fund |c 2008 | |
| 300 | |a VII, 84 S. |b graph. Darst. |c 28 cm | ||
| 336 | |b txt |2 rdacontent | ||
| 337 | |b n |2 rdamedia | ||
| 338 | |b nc |2 rdacarrier | ||
| 490 | 1 | |a Occasional paper / International Monetary Fund |v 259 | |
| 500 | |a Also available on the World Wide Web. | ||
| 500 | |a Includes bibliographical references | ||
| 520 | 3 | |a 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.--Publisher's description. | |
| 650 | 4 | |a Migration | |
| 650 | 4 | |a Emigrant remittances | |
| 650 | 4 | |a Emigration and immigration |x Economic aspects | |
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| 689 | 0 | |5 DE-604 | |
| 700 | 1 | |a Chami, Ralph |e Sonstige |4 oth | |
| 810 | 2 | |a International Monetary Fund |t Occasional paper |v 259 |w (DE-604)BV002597241 |9 259 | |
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| 999 | |a oai:aleph.bib-bvb.de:BVB01-017137975 | ||
Datensatz im Suchindex
| _version_ | 1804138647149084673 |
|---|---|
| adam_text | * T :: -.*. . ** R ! * = ; : * . ; : . : ; . CONTENTS PREFACE VII
INTRODUCTION II REMITTANCES: MEASUREMENT MATTERS WHY STUDY THE MACRO
EFFECTS OF REMITTANCES? MEASURING REMITTANCES EXAMINING THE DATA:
MEASUREMENT MATTERS NEW BALANCE OF PAYMENTS METHODOLOGY CONCLUSION
REFERENCES 3 4 5 7 III REMITTANCES: STYLIZED FACTS 10 STYLIZED FACTS
USING AGGREGATE DATA ON WORKERS REMITTANCES 11 STYLIZED FACTS USING A
CROSS-COUNTRY DATABASE OF WORKERS REMITTANCES 14 CONCLUSION 19
REFERENCES 19 IV WHAT DRIVES REMITTANCE FLOWS? FACTORS DRIVING
REMITTANCES USES OF REMITTANCES REFERENCES 21 21 27 30 V MACROECONOMIC
IMPLICATIONS OF REMITTANCES: THEORY WORKERS REMITTANCES AND SHORT-RUN
MACROECONOMIC PERFORMANCE REMITTANCES AND GROWTH REMITTANCES AND
GOVERNMENT DEBT SUSTAIN ABILITY CONCLUSION REFERENCES 32 32 38 42 43 43
VI MACROECONOMIC IMPLICATIONS OF REMITTANCES: A GENERAL EQUILIBRIUM
MODEL WITH MONEY REMITTANCES IN A BUSINESS CYCLE FRAMEWORK RESULTS WITH
LABOR INCOME TAXATION RESULTS WITH CONSUMPTION TAXATION REMITTANCES AND
MACROECONOMIC RISKS WELFARE IMPLICATIONS OF REMITTANCES CONCLUSION
APPENDIX 6.1. THE MODEL REFERENCES 44 44 46 48 49 52 54 54 56 VII AN
EMPIRICAL INVESTIGATION OF THE MACROECONOMIC EFFECTS OF REMITTANCES 58
REMITTANCES AND GDP GROWTH 58 REMITTANCES AND MACROECONOMIC VOLATILITY
65 WORKERS REMITTANCES AND THE EQUILIBRIUM REAL EXCHANGE RATE 69
REMITTANCES, FISCAL POLICY, AND DEBT SUSTAINABILITY 71 APPENDIX 7.1.
DATA DEFINITIONS, SOURCES, AND COVERAGE 76 REFERENCES 77 VIII POLICY
IMPLICATIONS 79 POLICY IMPLICATIONS OF REMITTANCES 80 REFERENCES 82
BOXES 7.1. REMITTANCES AND FISCAL SUSTAINABILITY 73 7.2. REMITTANCES AND
EXTERNAL SUSTAINABILITY 75 TABLES 2.1. SUMMARY BUSINESS CYCLE
CORRELATIONS 6 2.2. BUSINESS CYCLE CORRELATIONS: SUBSAMPLE 7 3.1.
EMERGING ECONOMIES: WORKERS REMITTANCES 15 3.2. DEVELOPING COUNTRIES:
WORKERS REMITTANCES IN RELATION TO SELECTED BALANCE OF PAYMENTS INFLOWS
16 3.3. EMERGING ECONOMIES: VOLATILITY OF WORKERS REMITTANCES IN
COMPARISON TO SELECTED BALANCE OF PAYMENTS INFLOWS 17 3.4. EMERGING
ECONOMIES: CORRELATIONS BETWEEN WORKERS REMITTANCES AND OTHER SELECTED
BALANCE OF PAYMENTS INFLOWS 18 3.5. EMERGING ECONOMIES: SELECTED
MACROECONOMIC VARIABLES ACROSS PERCENTILES OF WORKERS REMITTANCES,
1995-2004 19 4.1. DETERMINANTS OF WORKERS REMITTANCES, 1970-2005 26 4.2.
DETERMINANTS OF WORKERS REMITTANCES, 1985-2005 27 4.3. DETERMINANTS OF
WORKERS REMITTANCES, 2001-2005 28 6.1. STEADY-STATE VALUES UNDER LABOR
TAXATION 47 6.2. STEADY-STATE VALUES UNDER CONSUMPTION TAXATION 48 6.3.
STANDARD DEVIATION OF CALIBRATED CHILE ECONOMIES 50 6.4. UTILITY GAINS
FROM CONSUMPTION TAXATION VERSUS LABOR TAXATION 53 7.1. OLS AND
FIXED-EFFECTS REGRESSIONS EXPLAINING PER CAPITA GDP GROWTH AS A FUNCTION
OF WORKERS REMITTANCES AND DIFFERENT CONDITIONING SETS, ALL COUNTRIES
64 7.2. OLS AND FIXED-EFFECTS REGRESSIONS EXPLAINING PER CAPITA GDP
GROWTH AS A FUNCTION OF WORKERS REMITTANCES AND DIFFERENT CONDITIONING
SETS, EMERGING ECONOMIES 65 7.3. OLS AND FIXED-EFFECTS INSTRUMENTAL
VARIABLES REGRESSIONS EXPLAINING PER CAPITA GDP GROWTH AS A FUNCTION OF
WORKERS REMITTANCES AND DIFFERENT CONDITIONING SETS, ALL COUNTRIES 66
7.4. OLS AND FIXED-EFFECTS INSTRUMENTAL VARIABLES REGRESSIONS EXPLAINING
PER CAPITA GDP GROWTH AS A FUNCTION OF WORKERS REMITTANCES AND
DIFFERENT CONDITIONING SETS, EMERGING ECONOMIES 67 7.5. CROSS-SECTIONAL
REGRESSION EXPLAINING GDP VOLATILITY AS A FUNCTION OF WORKERS
REMITTANCES AND CONDITIONING VARIABLES 68 7.6. COINTEGRATING RELATIONS
FOR THE REAL EXCHANGE RATE, 1960-2004 72 FIGURES 2.1. CORRELATION OF
WORKERS REMITTANCES AND EMPLOYEE COMPENSATION 7 3.1. WORLDWIDE WORKERS
REMITTANCES, 1970-2003 11 3.2. WORKERS REMITTANCES BY REGION:
DEVELOPING COUNTRIES, 1980-2003 11 3.3. TOP 20 RECIPIENT COUNTRIES:
WORKERS REMITTANCES, 2004 12 3.4. TOP 20 RECIPIENT COUNTRIES: AVERAGE
WORKERS REMITTANCES, 1990-2004 12 3.5. TOP 20 RECIPIENT COUNTRIES:
RATIO OF WORKERS REMITTANCES TO GDP, 2004 13 3.6. TOP 20 RECIPIENT
COUNTRIES: AVERAGE RATIO OF WORKERS REMITTANCES TO GDP, 1990-2004 13
3.7. WORKERS REMITTANCES AND OTHER INFLOWS TO DEVELOPING COUNTRIES 14
3.8. VOLATILITY OF INFLOWS TO DEVELOPING COUNTRIES, 1980-2003 15 3.9.
EMERGING ECONOMIES: WORKERS REMITTANCES, 1995-2004 16 6.1. LABOR MARKET
DYNAMICS IN RESPONSE TO A POSITIVE TECHNOLOGY SHOCK 51 6.2.
REMITTANCE-DEPENDENT ECONOMIES: OUTPUT VOLATILITY AND INFLATION 52 7.1.
OUTPUT VOLATILITY AND THE RATIO OF WORKERS REMITTANCES TO GDP 69 7.2.
REMITTANCES AND THE EQUILIBRIUM REAL EXCHANGE RATE 70 7.3.
REMITTANCE-DEPENDENT ECONOMIES AND FISCAL POLICY, 1990-2005 74 THE
FOLLOWING CONVENTIONS ARE USED IN THIS PUBLICATION: * IN TABLES, A BLANK
CELL INDICATES NOT APPLICABLE, ELLIPSIS POINTS (. . .) INDICATE NOT
AVAIL- ABLE, AND 0 OR 0.0 INDICATES ZERO OR NEGLIGIBLE. MINOR
DISCREPANCIES BETWEEN SUMS OF CONSTITUENT FIGURES AND TOTALS ARE DUE TO
ROUNDING. * AN EN DASH (-) BETWEEN YEARS OR MONTHS (FOR EXAMPLE, 2005-06
OR JANUARY-JUNE) INDI- CATES THE YEARS OR MONTHS COVERED, INCLUDING THE
BEGINNING AND ENDING YEARS OR MONTHS; A SLASH OR VIRGULE (/) BETWEEN
YEARS OR MONTHS (FOR EXAMPLE, 2005/06) INDICATES A FISCAL OR FINANCIAL
YEAR, AS DOES THE ABBREVIATION FY (FOR EXAMPLE, FY2006). * BILLION
MEANS A THOUSAND MILLION; TRILLION MEANS A THOUSAND BILLION. * BASIS
POINTS REFER TO HUNDREDTHS OF 1 PERCENTAGE POINT (FOR EXAMPLE, 25 BASIS
POINTS ARE EQUIVALENT TO VI OF 1 PERCENTAGE POINT). AS USED IN THIS
PUBLICATION, THE TERM COUNTRY DOES NOT IN ALL CASES REFER TO A
TERRITORIAL ENTITY THAT IS A STATE AS UNDERSTOOD BY INTERNATIONAL LAW
AND PRACTICE. AS USED HERE, THE TERM ALSO COVERS SOME TERRITORIAL
ENTITIES THAT ARE NOT STATES BUT FOR WHICH STATISTICAL DATA ARE MAIN-
TAINED ON A SEPARATE AND INDEPENDENT BASIS.
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| illustrated | Illustrated |
| indexdate | 2024-07-09T21:31:30Z |
| institution | BVB |
| isbn | 9781589067011 1589067010 |
| language | English |
| lccn | 2008297876 |
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| physical | VII, 84 S. graph. Darst. 28 cm |
| publishDate | 2008 |
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| spelling | Macroeconomic consequences of remittances Ralph Chami ... [et al.] Washington, DC International Monetary Fund 2008 VII, 84 S. graph. Darst. 28 cm txt rdacontent n rdamedia nc rdacarrier Occasional paper / International Monetary Fund 259 Also available on the World Wide Web. Includes bibliographical references 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.--Publisher's description. Migration Emigrant remittances Emigration and immigration Economic aspects Internationale Migration (DE-588)4162051-3 gnd rswk-swf Kapitalbewegung (DE-588)4132737-8 gnd rswk-swf Überweisung (DE-588)4218779-5 gnd rswk-swf Internationale Migration (DE-588)4162051-3 s Kapitalbewegung (DE-588)4132737-8 s Überweisung (DE-588)4218779-5 s DE-604 Chami, Ralph Sonstige oth International Monetary Fund Occasional paper 259 (DE-604)BV002597241 259 SWBplus Fremddatenuebernahme application/pdf http://bvbr.bib-bvb.de:8991/F?func=service&doc_library=BVB01&local_base=BVB01&doc_number=017137975&sequence=000001&line_number=0001&func_code=DB_RECORDS&service_type=MEDIA Inhaltsverzeichnis |
| spellingShingle | Macroeconomic consequences of remittances Migration Emigrant remittances Emigration and immigration Economic aspects Internationale Migration (DE-588)4162051-3 gnd Kapitalbewegung (DE-588)4132737-8 gnd Überweisung (DE-588)4218779-5 gnd |
| subject_GND | (DE-588)4162051-3 (DE-588)4132737-8 (DE-588)4218779-5 |
| title | Macroeconomic consequences of remittances |
| title_auth | Macroeconomic consequences of remittances |
| title_exact_search | Macroeconomic consequences of remittances |
| title_full | Macroeconomic consequences of remittances Ralph Chami ... [et al.] |
| title_fullStr | Macroeconomic consequences of remittances Ralph Chami ... [et al.] |
| title_full_unstemmed | Macroeconomic consequences of remittances Ralph Chami ... [et al.] |
| title_short | Macroeconomic consequences of remittances |
| title_sort | macroeconomic consequences of remittances |
| topic | Migration Emigrant remittances Emigration and immigration Economic aspects Internationale Migration (DE-588)4162051-3 gnd Kapitalbewegung (DE-588)4132737-8 gnd Überweisung (DE-588)4218779-5 gnd |
| topic_facet | Migration Emigrant remittances Emigration and immigration Economic aspects Internationale Migration Kapitalbewegung Überweisung |
| url | http://bvbr.bib-bvb.de:8991/F?func=service&doc_library=BVB01&local_base=BVB01&doc_number=017137975&sequence=000001&line_number=0001&func_code=DB_RECORDS&service_type=MEDIA |
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