Remittances and Development : Lessons from Latin America
There are four main messages that emerge from this book. First, no matter how authors look at the issue, remittances are extremely important in the Latin American context. With remittances estimated to have topped more than US$50 billion in 2006, L...
| Main Authors: | , |
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| Format: | Publication |
| Language: | English en_US |
| Published: |
Washington, DC: World Bank
2012
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| Subjects: | |
| Online Access: | http://documents.worldbank.org/curated/en/2007/01/9054242/remittances-development-lessons-latin-america http://hdl.handle.net/10986/6911 |
| Summary: | There are four main messages that emerge
from this book. First, no matter how authors look at the
issue, remittances are extremely important in the Latin
American context. With remittances estimated to have topped
more than US$50 billion in 2006, Latin America is now the
main destination of these flows. Second, remittances
generate a number of important positive contributions to
economic development. In particular, they tend to reduce
poverty and inequality in recipient countries, as well as
increase aggregate investment and growth. Third, even though
remittances have a positive impact on the development
indicators of the recipient economies, the magnitude of the
estimated changes tends to be modest. Fourth, policy makers
may take actions to enhance the development impact of
remittances. One important message of this book is that the
way countries benefit from remittances appears to be
positively related to the countries' own institutional
and macroeconomic environments. |
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