Outlook for Remittance Flows 2009-2011 : Remittances Expected to Fall by 7-10 Percent in 2009
Newly available data show that remittance flows to developing countries reached $328 billion in 2008, larger than previous estimate of $305 billion. Remittances grew rapidly during 2007 and 2008, but have slowed down in many corridors since the las...
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| Format: | Brief |
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World Bank, Washington, DC
2012
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| Online Access: | http://documents.worldbank.org/curated/en/2009/07/11510231/outlook-remittance-flows-2009-2011-remittances-expected-fall-7-10-percent-2009 http://hdl.handle.net/10986/10975 |
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okr-10986-109752021-04-23T14:02:53Z Outlook for Remittance Flows 2009-2011 : Remittances Expected to Fall by 7-10 Percent in 2009 Ratha, Dilip Mohapatra, Sanket Silwal, Ani ASSET PRICES ASSETS BALANCE OF PAYMENTS BALANCE OF PAYMENTS MANUAL BALANCE OF PAYMENTS STATISTICS CAPITAL ACCOUNT CAPITAL FLOWS CENTRAL BANKS COMPENSATION OF EMPLOYEES COUNTRY OF ORIGIN COUNTRY TO COUNTRY CURRENCY DEMAND DATA ON REMITTANCES DEMAND DEPOSITS DEPOSITS DEPRECIATION DEVELOPING COUNTRIES ECONOMIC CRISIS ECONOMIC DOWNTURN ECONOMIC DOWNTURNS ECONOMIC GROWTH EMERGING MARKETS EMPLOYMENT EQUITY FLOWS EXCHANGE RATE EXCHANGE RATES EXPENDITURE EXTERNAL FINANCING FEDERAL RESERVE FEDERAL RESERVE BANK FEDERAL RESERVE BANK OF ATLANTA FINANCIAL CRISIS FINANCIAL PRODUCTS FOREIGN CURRENCY FOREIGN CURRENCY DEPOSITS FOREIGN DIRECT INVESTMENT FOREIGN INVESTORS GLOBAL DEVELOPMENT FINANCE GLOBAL REMITTANCES GROWTH OF REMITTANCES GROWTH RATE HOME COUNTRY HOST COUNTRIES HOST COUNTRY HOUSING INCOME INCOME SHOCKS INCOMES INCREASE IN REMITTANCES INFORMAL CHANNELS INFRASTRUCTURE PROJECTS INSURANCE INTEREST RATE INTEREST RATE DIFFERENTIALS INTEREST RATES INTERNATIONAL CAPITAL INTERNATIONAL CAPITAL FLOWS INTERNATIONAL INVESTMENTS INTERNATIONAL TRANSACTIONS INVESTMENT PURPOSES LABOR MARKETS LIABILITY LOCAL CURRENCY LOW-INCOME COUNTRIES MARKET INFRASTRUCTURE MIDDLE-INCOME COUNTRIES MIGRANT DESTINATION COUNTRIES MIGRANT LABOR MIGRANT REMITTANCES MIGRANT TRANSFERS MIGRANT WORKERS MIGRANTS MORTGAGE NOMINAL EXCHANGE RATE OIL PRICES PORTFOLIO PORTFOLIO FLOWS PRIVATE CAPITAL PRIVATE CAPITAL INFLOWS PRIVATE DEBT PUBLIC EXPENDITURE QUOTAS RECESSION REMITTANCE REMITTANCE COSTS REMITTANCE FLOWS REMITTANCE INFLOWS REMITTANCES REMITTANCES FLOWS REMITTANCES FOR INVESTMENT RESERVE BANK OF INDIA RETURN RETURN MIGRATION SAVINGS SEND REMITTANCES SKILLED MIGRATION SLOWDOWN STOCKS TIME DEPOSITS UNCERTAINTY WAGES WORKERS REMITTANCES Newly available data show that remittance flows to developing countries reached $328 billion in 2008, larger than previous estimate of $305 billion. Remittances grew rapidly during 2007 and 2008, but have slowed down in many corridors since the last quarter of 2008. In line with a recent downward revision in the World Bank's forecast of global economic growth, also lowered forecasts for remittance flows to developing countries to -7.3 percent in 2009 from the earlier forecast of -5 percent. Flows to Latin America have been falling in a lagged response to the construction sector slowdown in the US, but there are emerging signs of a bottoming out. In contrast, flows to South Asia and East Asia have been strong; but there is risk of a slowdown going forward. The predicted decline in remittances is far smaller than that for private flows to developing countries. The resilience of remittances arises from the fact that while new migration flows have declined, the stock of migrants has been relatively unaffected by the crisis. Sources of risk to this outlook include uncertainty about the depth and duration of the current crisis, unpredictable movements in exchange rates, and the possibility that immigration controls may be tightened further in major destination countries. 2012-08-13T13:45:06Z 2012-08-13T13:45:06Z 2009-07 http://documents.worldbank.org/curated/en/2009/07/11510231/outlook-remittance-flows-2009-2011-remittances-expected-fall-7-10-percent-2009 http://hdl.handle.net/10986/10975 English Migration and Development Brief; No. 10 CC BY 3.0 IGO http://creativecommons.org/licenses/by/3.0/igo/ World Bank World Bank, Washington, DC Publications & Research :: Brief Publications & Research |
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Digital Repository |
| institution_category |
Foreign Institution |
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Digital Repositories |
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World Bank Open Knowledge Repository |
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World Bank |
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English |
| topic |
ASSET PRICES ASSETS BALANCE OF PAYMENTS BALANCE OF PAYMENTS MANUAL BALANCE OF PAYMENTS STATISTICS CAPITAL ACCOUNT CAPITAL FLOWS CENTRAL BANKS COMPENSATION OF EMPLOYEES COUNTRY OF ORIGIN COUNTRY TO COUNTRY CURRENCY DEMAND DATA ON REMITTANCES DEMAND DEPOSITS DEPOSITS DEPRECIATION DEVELOPING COUNTRIES ECONOMIC CRISIS ECONOMIC DOWNTURN ECONOMIC DOWNTURNS ECONOMIC GROWTH EMERGING MARKETS EMPLOYMENT EQUITY FLOWS EXCHANGE RATE EXCHANGE RATES EXPENDITURE EXTERNAL FINANCING FEDERAL RESERVE FEDERAL RESERVE BANK FEDERAL RESERVE BANK OF ATLANTA FINANCIAL CRISIS FINANCIAL PRODUCTS FOREIGN CURRENCY FOREIGN CURRENCY DEPOSITS FOREIGN DIRECT INVESTMENT FOREIGN INVESTORS GLOBAL DEVELOPMENT FINANCE GLOBAL REMITTANCES GROWTH OF REMITTANCES GROWTH RATE HOME COUNTRY HOST COUNTRIES HOST COUNTRY HOUSING INCOME INCOME SHOCKS INCOMES INCREASE IN REMITTANCES INFORMAL CHANNELS INFRASTRUCTURE PROJECTS INSURANCE INTEREST RATE INTEREST RATE DIFFERENTIALS INTEREST RATES INTERNATIONAL CAPITAL INTERNATIONAL CAPITAL FLOWS INTERNATIONAL INVESTMENTS INTERNATIONAL TRANSACTIONS INVESTMENT PURPOSES LABOR MARKETS LIABILITY LOCAL CURRENCY LOW-INCOME COUNTRIES MARKET INFRASTRUCTURE MIDDLE-INCOME COUNTRIES MIGRANT DESTINATION COUNTRIES MIGRANT LABOR MIGRANT REMITTANCES MIGRANT TRANSFERS MIGRANT WORKERS MIGRANTS MORTGAGE NOMINAL EXCHANGE RATE OIL PRICES PORTFOLIO PORTFOLIO FLOWS PRIVATE CAPITAL PRIVATE CAPITAL INFLOWS PRIVATE DEBT PUBLIC EXPENDITURE QUOTAS RECESSION REMITTANCE REMITTANCE COSTS REMITTANCE FLOWS REMITTANCE INFLOWS REMITTANCES REMITTANCES FLOWS REMITTANCES FOR INVESTMENT RESERVE BANK OF INDIA RETURN RETURN MIGRATION SAVINGS SEND REMITTANCES SKILLED MIGRATION SLOWDOWN STOCKS TIME DEPOSITS UNCERTAINTY WAGES WORKERS REMITTANCES |
| spellingShingle |
ASSET PRICES ASSETS BALANCE OF PAYMENTS BALANCE OF PAYMENTS MANUAL BALANCE OF PAYMENTS STATISTICS CAPITAL ACCOUNT CAPITAL FLOWS CENTRAL BANKS COMPENSATION OF EMPLOYEES COUNTRY OF ORIGIN COUNTRY TO COUNTRY CURRENCY DEMAND DATA ON REMITTANCES DEMAND DEPOSITS DEPOSITS DEPRECIATION DEVELOPING COUNTRIES ECONOMIC CRISIS ECONOMIC DOWNTURN ECONOMIC DOWNTURNS ECONOMIC GROWTH EMERGING MARKETS EMPLOYMENT EQUITY FLOWS EXCHANGE RATE EXCHANGE RATES EXPENDITURE EXTERNAL FINANCING FEDERAL RESERVE FEDERAL RESERVE BANK FEDERAL RESERVE BANK OF ATLANTA FINANCIAL CRISIS FINANCIAL PRODUCTS FOREIGN CURRENCY FOREIGN CURRENCY DEPOSITS FOREIGN DIRECT INVESTMENT FOREIGN INVESTORS GLOBAL DEVELOPMENT FINANCE GLOBAL REMITTANCES GROWTH OF REMITTANCES GROWTH RATE HOME COUNTRY HOST COUNTRIES HOST COUNTRY HOUSING INCOME INCOME SHOCKS INCOMES INCREASE IN REMITTANCES INFORMAL CHANNELS INFRASTRUCTURE PROJECTS INSURANCE INTEREST RATE INTEREST RATE DIFFERENTIALS INTEREST RATES INTERNATIONAL CAPITAL INTERNATIONAL CAPITAL FLOWS INTERNATIONAL INVESTMENTS INTERNATIONAL TRANSACTIONS INVESTMENT PURPOSES LABOR MARKETS LIABILITY LOCAL CURRENCY LOW-INCOME COUNTRIES MARKET INFRASTRUCTURE MIDDLE-INCOME COUNTRIES MIGRANT DESTINATION COUNTRIES MIGRANT LABOR MIGRANT REMITTANCES MIGRANT TRANSFERS MIGRANT WORKERS MIGRANTS MORTGAGE NOMINAL EXCHANGE RATE OIL PRICES PORTFOLIO PORTFOLIO FLOWS PRIVATE CAPITAL PRIVATE CAPITAL INFLOWS PRIVATE DEBT PUBLIC EXPENDITURE QUOTAS RECESSION REMITTANCE REMITTANCE COSTS REMITTANCE FLOWS REMITTANCE INFLOWS REMITTANCES REMITTANCES FLOWS REMITTANCES FOR INVESTMENT RESERVE BANK OF INDIA RETURN RETURN MIGRATION SAVINGS SEND REMITTANCES SKILLED MIGRATION SLOWDOWN STOCKS TIME DEPOSITS UNCERTAINTY WAGES WORKERS REMITTANCES Ratha, Dilip Mohapatra, Sanket Silwal, Ani Outlook for Remittance Flows 2009-2011 : Remittances Expected to Fall by 7-10 Percent in 2009 |
| relation |
Migration and Development Brief; No. 10 |
| description |
Newly available data show that
remittance flows to developing countries reached $328
billion in 2008, larger than previous estimate of $305
billion. Remittances grew rapidly during 2007 and 2008, but
have slowed down in many corridors since the last quarter of
2008. In line with a recent downward revision in the World
Bank's forecast of global economic growth, also lowered
forecasts for remittance flows to developing countries to
-7.3 percent in 2009 from the earlier forecast of -5
percent. Flows to Latin America have been falling in a
lagged response to the construction sector slowdown in the
US, but there are emerging signs of a bottoming out. In
contrast, flows to South Asia and East Asia have been
strong; but there is risk of a slowdown going forward. The
predicted decline in remittances is far smaller than that
for private flows to developing countries. The resilience of
remittances arises from the fact that while new migration
flows have declined, the stock of migrants has been
relatively unaffected by the crisis. Sources of risk to this
outlook include uncertainty about the depth and duration of
the current crisis, unpredictable movements in exchange
rates, and the possibility that immigration controls may be
tightened further in major destination countries. |
| format |
Publications & Research :: Brief |
| author |
Ratha, Dilip Mohapatra, Sanket Silwal, Ani |
| author_facet |
Ratha, Dilip Mohapatra, Sanket Silwal, Ani |
| author_sort |
Ratha, Dilip |
| title |
Outlook for Remittance Flows 2009-2011 : Remittances Expected to Fall by 7-10 Percent in 2009 |
| title_short |
Outlook for Remittance Flows 2009-2011 : Remittances Expected to Fall by 7-10 Percent in 2009 |
| title_full |
Outlook for Remittance Flows 2009-2011 : Remittances Expected to Fall by 7-10 Percent in 2009 |
| title_fullStr |
Outlook for Remittance Flows 2009-2011 : Remittances Expected to Fall by 7-10 Percent in 2009 |
| title_full_unstemmed |
Outlook for Remittance Flows 2009-2011 : Remittances Expected to Fall by 7-10 Percent in 2009 |
| title_sort |
outlook for remittance flows 2009-2011 : remittances expected to fall by 7-10 percent in 2009 |
| publisher |
World Bank, Washington, DC |
| publishDate |
2012 |
| url |
http://documents.worldbank.org/curated/en/2009/07/11510231/outlook-remittance-flows-2009-2011-remittances-expected-fall-7-10-percent-2009 http://hdl.handle.net/10986/10975 |
| _version_ |
1764415061557772288 |