MIGRANTS REMITTANCES: MICROECONOMIC AND MACROECONOMIC CONTEXTS
Abstract
Global remittances flow has been rising considerably over the last decade. Their share in GDP reaches several tens of percent in some (especially developing) countries. That is why their impact on the country of the migrant`s origin has become a subject of controversial debate in the scientific community. This chapter provides a synthesis of views that have crystallized as part of an ongoing academic debate on remittance determinants and their impact on recipient countries. We aim to analyze the fundamental scientific opinions published on this topic and to outline possible directions for future research on migrant remittances. The chapter analyzes individual determinants as well as remittance effects on two levels: microeconomic and macroeconomic ones. The analysis concludes that remittances are an important source of external financing for the economies of developing countries. Nonetheless, they cannot be considered as a panacea for economic backwardness
References
Amuedo-Dorantes, C., Pozo, S. (2006). Remittances as Insurance: Evidence from Mexican Immigrants. Journal of Population Economics, 19(2):227-35.
Azam, J.P., Gubert, F. (2005). Those in Kayes: The Impact of Remittances on their Recipients in Africa. Revue Economique, 56(6): 1331-1358.
Bourdet, Y., Falk, H. (2006). Emigrants Remittances and Dutch Disease in Cape Verde. International Economic Journal, 20(3): 267-284.
Buch, C.M., Kuckulenz, A. (2004). Worker Remittances and Capital Flows to Developing Countries, ZEW, Discussion Paper 4(31), ZEW, Mannheim.
Chauvet, L., Mesplé-Soms, S. (2007). Impact des financements internationaux sur les inégalités des pays en développement. Revue Economique, 58(3): 735-744.
Danaj, A., Lazányi, K., & Bilan, Y. (2018). Perceptions and Implications of Immigration in France – Economic, Social, Political and Cultural Perspectives. Economics & Sociology, 11(3): 226–247.
De La Peña Esteban, J. I., & Peña-Miguel, N. (2018). Rethinking social welfare in Spain: a basic pension for everyone. EkonomskaIstraživanja, 31(1): 1737–1757.
Deskar-Škrbić, M., Drezgić, S., & Šimović, H. (2018). Tax policy and labour market in Croatia: effects of tax wedge on employment. EkonomskaIstraživanja, 31(1): 1218–1227.
Docquier, F., Rapoport, H. (2003). Remittances and Inequality: A Dynamic Migration Model, IZA Discussion Paper 808, Institute for the Study of Labor, Bonn.
Ebeke, Ch., Le Goff, M. (2010). Impact des envois de fonds des migrants sur les inégalités de revenud ans les pays en développement. Revue économique 61(6):1051-1074.
Fajnzylber, P., López, H. (2008) (Eds). Remittances and development: lessons from Latin America. Washington, World Bank.
Görlich, D. et al. (2007). Explaining Labour Market Inactivity in Migrant-Sending Families: 15 Housework, Hammock, or Higher Education? Kiel Working Paper, #1391, December.
Gupta, S., Pattillo, A., Wagh, S. (2009). Effect of Remittances on Poverty and Financial Development in Sub-Saharan Africa. World Development, 37: 104-115.
Hudcovský, M., Lábaj, M., & Morvay, K. (2017). Employment Growth and Labour Elasticity in V4 Countries: Structural Decomposition Analysis. Prague Economic Papers, 26(4): 422–437.
IMF (2009). Balance of Payments and International Investment Position Manual. International Monetary Fund, Washington, D.C.
Konica, N., Filer, R. (2009). Albanian emigration: causes and consequences. South-Eastern Europe Journal of Economics, (1): 75-98.
Ratha, D. (2003). Workers´ Remittances: an Important and Stable Source of External Development Finance. In Global Development Finance, World Bank.
Simionescu, M., Balcerzak, A. P., Bilan, Y., & Kotásková, A. (2018). The impact of money on output in Czech Republic and Romania. Journal of Business Economics and Management, 19(1): 20–41.
Sirkeci, I., & Přívara, A. (2017). Cost of Sending Remittances from the UK in the Aftermath of the Financial Crisis. Remittances Review, 2(1): 47–56.
Škuflić, L., & Vučković, V. (2018). The effect of emigration on unemployment rates: the case of EU emigrant countries. Ekonomska Istraživanja, 31(1): 1826–1836.
Strielkowski, W., Rausser, G., Bilan, Y., & Tsevukh, Y. (2018). Migrant remittances and their impact on the economic development of the Baltic States. Geographica Pannonica, 22.
Woodruff, C.M., Zeneto, R. (2001). Remittances and Microenterprises in Mexico. UCSD, Graduate school of International Relations and Pacific Studies Working Paper.
World Bank (2019). Migration and Remittances Factbook. World Bank Group, Washington, D.C.
Copyright
The EUrASEANs
International College Suan Sunandha
Rajabhat University, Bangkok, Thailand
