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International Remittance Payments and the Global Economy (Hardcover)
Loot Price: R4,438
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International Remittance Payments and the Global Economy (Hardcover)
Series: Routledge Studies in the Modern World Economy
Expected to ship within 12 - 17 working days
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International Remittance Payments are described mainly as money
sent by immigrants to their families and friends in their home
countries. These payments provide an important source of income
that is mostly used to provide for a variety of basic needs of the
non-migrating members of immigrant families and thus remittance
payments can be considered as a tool to reduce the poverty level of
the labor sending countries. However, remittances are also used for
asset accumulation by some families and for some countries they
constitute a good part of foreign funds coming into the country.
In-spite of their increasing volume over the last few decades, a
lot of things about remittances are not known and studies estimate
that about half of these money transfers are not even recorded.
Since these payments are shown to reduce poverty and help economic
progress in the remittance receiving countries, a better knowledge
about remittances would help the debates surrounding immigration,
remittances and their relation to the global economy. This book
provides an overview of remittances in different parts of the world
over the last thirty years. It looks at the labor sending and labor
receiving countries separately. The text examines the trends, uses,
motivations behind sending remittances, cost of sending them and
how they are affected by the nature and the development level of
different institutional factors. The remittance flows are growing
over time and they are used mostly for reducing the uncertainty of
life in the less developed parts of the world. However, motivation
for sending remittances could be improved and thus remittances
could be more conducive to economic development if 1) the relation
between the remittance decision and the migration decision is
better understood and 2) the costs of international money transfers
are reduced. More studies about those issues would benefit the
international community. Efforts should be made in all fronts to
encourage such international flow of funds not only to have a
redistribution of income all over the world, but also to
synchronize the efforts towards global economic development and a
better integration of the world economy. This book is aimed
researchers, policy practitioners and post graduates studying
International Economics or International Economic Relations or
Political Science or Economic Development.
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