Worker’s remittances as stable financial flows: some evidence from India

Singh, Bhupal (2006): Worker’s remittances as stable financial flows: some evidence from India. Published in: Labour and Development , Vol. 11-12, No. 1&2 : pp. 23-47.

Abstract

This paper dwells upon the financial dimension of workers’ remittances as this issue has assumed significant policy attention across the spectrum of developing countries. Specifically, it addresses the following: i) Literature on workers’’ remittances in a macro economic framework; ii) Stability of workers’ remittances as a sustainable source of external finance; iii) Channels through the workers’ remittances flows into India and the issue of high transaction cost entailed in transmitting funds; and (iv) Impact of policy reforms in India on the modes of remittance transfers.

• Item Type: MPRA Paper
• Language: English
• Keywords: Workers' remittances; financial flows; transaction cost
• Subjects: F - International Economics > F2 - International Factor Movements and International Business > F22 - International Migration; F - International Economics > F2 - International Factor Movements and International Business > F24 - Remittances

References

Brown, Richard P.C. (1997), “Estimating Remittance Functions for Pacific Island Migrants”, World Development, 25 (4): 613-626. Buch, C.M., Anja Kuckulenz and Marie-Helene Le Manch (2002), “Worker Remittances and Capital Flows”, Kiel Working Paper No.1130, Kiel Institute for World Economic, Germany. Bulir, A. and A.J. Hamann, (2001), How Volatile and Unpredictable are Aid Flows, and What Are the Policy Implications? IMF Working Paper, WP/01/167. Cornelius, W. (1990), “Labour Migration to the US: Development, Outcomes, and Alternatives in Mexican Sending Communities”, Report of the Commission for the Study of International Migration and Cooperative Economic Development, Washington. Durand, J., W. Kandell, E. Parrado and D.S. Massey (1996),”Migradollars and Development: A Reconsideration of the Mexican Case”, International Migration Review, 30(2), PP 423-44. Durand and Massey (1992), “Mexican Migration in the United States: A Critical Review”, Latin American Research Review, 27, pp 3-42. Georges, E. (1990), The Making of a Transnational Community: Migration, Development and Cultural Change in the Dominican Republic, New York, OUP. El-Qorchi, M. (2002),”Hawala”, Finance and Development, 39(4). Faini, R. (2002), “Migration Remittances and Growth”, Italian Ministry of the Economic and University of Brescia Glytsos, N.P. (1997), “Remitting Behaviour of ‘Temporary’ and ‘Permanent’ Migrants: The Case of Greeks in Germany and Australia”, Labour, 11(3): 409-435. Hulme, D., Moore, K. and A. Shepherd (2001), “Chronic Poverty: Meanings and Analytical Frameworks”, CPRC WP 2, IDPM, University of Manchester. Itzigsohn, J. (1995), “Migrant Remittances, Labour Markets and Household Strategies: A Comparative Analysis of Low Income Household Strategies in the Caribbean Basin.” Social Forces, 74(2), pp 633-55. Jadhav, Narendra (2003), ‘Maximising Development Benefits of Migrant Remittances: The Indian Experience’, Paper presented at the International Conference on Migrant Remittances, Department for International Development and World Bank, London, October 9-10. Kapur, D. (2003), “Remittances: The New Development Mantra?” paper prepared for the G-24 Technical Group Meeting, August 25. Lucas, Robert E.B. and O. Stark (1985), “Motivations to Remit: Evidence from Botswana”, Journal of Political Economy, 93: 901-18. Massey, D. and E. Parrado (1994),”Migradollars: The Remittacnes and Savings of Mexican Migrants to the United States”, Population Research and Policy Review, 13, 3-30. Mattoo, Aditya (2002), “Introduction and Overview in Aditya Mattoo and Antonia Carzaniga, eds, Moving People to Deliver Services: Labor Mobility and the WTO”, Oxford University Press. Meyers, W.D. (1998), “Migrant Remittances to Latin America: Reviewing the Literature”, International Dialogue – The Tomas Rivera Policy Institute. Mohan, R. (2004) Fiscal Challenges to Population Aging: The Asian Experience, paper presented at the Global Demographic Change Symposium Sponsored by the Federal Reserve Bank of Kansas City, Jackson Hole, Wyoming, August 26-28, 2004. Nayyar, Deepak (1989), “International Labour Migration from India: A Macro-Economic Analysis. In To the Gulf and Back Migration: Studies on the Economic Impact of Asian Labour Migration”, edited by Rashid Amjad (pp. 95-142), Geneva: International Labour Office. Nangia, P. and Saha, U. (2002), Profile of Emigrants from India: A Comparative Study of Kerala and Punjab. Oberoi, A.S. and H.K. Singh (1980), “Migration, Remittances and Rural Development: Finding of a Case Study in Indian Punjab”, International Labour Review, 199(2), pp 229-241. Orozco, Manuel (2002), Statement to US Senate Committee on Banking, Housing and Urban Affairs, Oversight Hearing on Accounting and Investor Protection Issues, February. Orozco, Manuel (2004), The Remittance Marketplace: Prices, Policy and Financial Institutions, Pew Hispanic Center Report Washington, DC: Georgetown University. Institute for the Study of International Migration. Poirine, Bernard (1997), “A Theory of Remittances as an Implicit Family Loan Arrangement”, World Development, 25(4): 589-611. Quibria, M.G. (1986), “Migrant Workers and Remittances: Issues for Asian Developing Countries”, Asian Development Review. Pallage, S. and Michael A. Robe (2001), Foreign Aid and Business Cycle, Review of International Economics, 9(4), pp.641-672. Patra, M.D. and M. Kapur (2003), “India’s Workers Remittances: A User’s Lament About Balance of Payments Compilation”, sixteenth Meeting of the IMF Committee on Balance of Payments Statistics, Washington D.C., December 1-5. Puri S. and T. Ritzema (1999),” Migrant Worker Remittances, Micro-Finance and Informal Economy: Prospects and Issues”. WP 21, Social Finance Unit, ILO, Geneva. Ratha, D. (2003), “Workers’ Remittances: An Important and Stable Source of External Finance”, Global Development Finance, pp 157-175. Reichart, Joshua (1981), “The Migrant Syndrome: Seasonal U.S. Wage Labour and Rural Development in Central Mexico”, Human Organization, 40: 56-66. Russel, Sharon S. (1992), “Migrant Remittances and Development”, International Migration and Development”, International Migration Quarterly Review, 30(3/4), pp 267-287. Sander, C. (2003),”Migrant Remittances to Developing Countries: A Scoping Study”, Paper prepared for DFID, Bannock consulting, June. Stark, O. and D. Bloom (1985), “The New Economics of Labor Migration”, American Economic Review, 75: 173-8. Straubhaar, T. (1986), “The Determinants of Remittances: The Case of Turkey”, Weltwirtschaftsliches Archive, 122 (4): 728-40. Swamy, G (1981), “International Migrant Workers’ Remittances: Issues and Prospects”, Staff Working Paper 481, World Bank, Washington. Taylor, J.E. and P.L. Fletcher (2002), “Remittance and Development in Mexico”, Rural Mexico Research Review. Todaro, Michael (1969), “A Model if Migration and Urban Unemployment in Less-Developed Countries”, The American Economic Review, 59 138-4. Van Doorn, J. (2002), “Migration, remittances and development”, Global Perspective, ILO. World Bank (2004), Global Development Finance, various issues.