MIGRANTS REMITTANCES: MICROECONOMIC AND MACROECONOMIC CONTEXTS
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
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International College Suan Sunandha
Rajabhat University, Bangkok, Thailand