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Begin New Search Topic Remittances Publication Year within 10 Years

1. Understanding the Impact of Remittances on Mexico’s Economy and Safeguarding Their Future Impact

Author:
Ryan C. Berg, Rubi Bledsoe, and Michael Ferguson
Publication Date:
01-2025
Content Type:
Policy Brief
Institution:
Center for Strategic and International Studies (CSIS)
Abstract:
Beyond providing supplemental income for Mexican households, remittances—funds sent by migrants to friends and families in their home country—provide a stable flow of developmental finance to the poorest subregions of the country, which have not historically benefited from international capital flows, such as development aid or foreign direct investment. Mexico, the world’s second-largest recipient of remittances, has seen a steady increase in the total volume of remittances received, primarily due to the strength of the U.S. labor market and concurrent wage growth among Mexican workers in the United States. Mechanisms to keep remittances secure are not impermeable to criminal organizations, which have been known to use small-increment deposits to launder gains from illicit economic activity, including drug trafficking. However, through increased U.S.-Mexico cooperation, both countries can strike the delicate balance between facilitating flows of remittances to promote development and financial inclusion and securing those funds from exploitation by illicit actors.
Topic:
Development, Economy, Trade, Economic Security, and Remittances
Political Geography:
North America and Mexico

2. Leaving No One Behind: Inclusive Fintech for Remittances

Author:
Ravenna Shost
Publication Date:
02-2024
Content Type:
Special Report
Institution:
Migration Policy Institute (MPI)
Abstract:
Remittances are an important source of support for migrants’ families, communities, and origin countries. However, the remittance industry has long been dominated by a few players whose services have high transaction costs, blunting the development benefits of these money transfers. By easing access to financial services, mainly via mobile phones, some countries and development actors hope that financial technology (or fintech) will change this status quo. Many believe that such technologies—namely mobile money and cryptocurrencies—hold the potential to boost migrants’ inclusion in financial systems and enhance the development benefits of remittances. Yet, many obstacles remain to widening these digital tools’ reach and usability, and safeguards are needed to protect users against new risks. This report explores the growing use of digital financial services for international remittances, including changes during the pandemic and a look at gendered aspects of these technologies’ impacts. The analysis draws, in part, on insights from expert interviews as well as focus groups conducted in Nigeria and Sri Lanka with users and nonusers of digital remittance services. The report results from a multiyear research partnership between MPI and the Swiss Agency for Development and Cooperation’s Thematic Section Migration and Forced Displacement to support the development of global solutions for migration-related challenges.
Topic:
Development, Migration, Science and Technology, Finance, and Remittances
Political Geography:
Global Focus

3. Making Migration Work for Adaptation: Classifying Remittances as Climate Finance

Author:
Samuel Huckstep and Jonathan Beynon
Publication Date:
10-2024
Content Type:
Policy Brief
Institution:
Center for Global Development (CGD)
Abstract:
Labour migration programmes targeted towards climate-vulnerable populations can provide transformative finance, raising household incomes and allowing adaptation. Current flows of adaptation finance are highly insufficient. Mobilisation of private adaptation finance is very low, despite commitments to increase mobilisation. Targeted labour migration programmes can leverage private adaptation finance at a high level of efficiency. Incentivising the selection of migrant labour from communities most vulnerable to climate change by counting a portion of their remittance flows as mobilised private climate finance may therefore have significant benefits.
Topic:
Climate Change, Development, Migration, Adaptation, and Remittances
Political Geography:
Global Focus

4. The political economy of Bitcoin as legal tender in El Salvador: Temporary bandages to permanent wounds?

Author:
Tobias Boos and Juan Grigera
Publication Date:
11-2023
Content Type:
Working Paper
Institution:
United Nations University
Abstract:
This paper provides a contextual analysis of the adoption of Bitcoin as legal tender in El Salvador. First, we outline the historical context and the political situation of the period 2019–24 that serve as context for the passage and implementation of the Bitcoin law (Decree No. 57). We identify the institutional and political context and the main areas of contention. Next, we delve into the macroeconomic context of El Salvador, outlining the fundamental features of its economy and highlighting how they relate to currency issues. Our analysis reveals that the adoption of Bitcoin cannot be understood without factoring in the mounting strains surrounding dollarization, remittances, and foreign debt. We conclude by putting forth a set of hypotheses regarding the potential dynamics and future of Bitcoin as legal tender in El Salvador that point beyond Bukele’s tactics.
Topic:
Debt, Political Economy, Economy, Bitcoin, Digital Currency, Remittances, Dollarization, and Nayib Bukele
Political Geography:
Central America and El Salvador

5. Reducing remittance costs in the Pacific Islands

Author:
Jessica Collins
Publication Date:
10-2023
Content Type:
Policy Brief
Institution:
Lowy Institute for International Policy
Abstract:
Despite years of international policy efforts to bring down the cost of sending money home, fees for overseas workers remitting to Pacific Island countries are among the most expensive in the world. If remittance costs to Fiji, Tonga, and Vanuatu were reduced to the United Nations’ target of less than 3% per transaction, more than A$79 million annually would go directly to households in those countries. The Australian government should better support Pacific people working under its temporary labour scheme who remit significant earnings home by using existing financial architecture and building up digital capabilities in the Pacific region.
Topic:
Labor Issues, G20, Economy, and Remittances
Political Geography:
Australia/Pacific, Tonga, Vanuatu, Fiji, and Pacific Islands

6. The Indonesian Government´S Intervention in the Management Of Indonesian Migrant Workers´ Remittances: Natural, Technical and Ultimate Restrictions

Author:
Annisa Ayuningtyas and Mailinda Eka Yuniza
Publication Date:
05-2022
Content Type:
Journal Article
Journal:
Revista UNISCI/UNISCI Journal
Institution:
Unidad de investigación sobre seguridad y cooperación (UNISCI)
Abstract:
The constitutionally groundless intervention of Indonesian government towards remittances-the financial outputs categorized as private transaction generated from Indonesian Migrant Workers (IMWs) abroad-has occurred since 1983 until the enactment of Law No. 18 Year 2017 on the protection of IMWs. This Law imposes obligations for local and central governments to conduct financial protection through remittance management by involving domestic and IMW`s placement state`s banks or non-bank financial institution. Given to the limited constitutional basis, private nature of remittances and conditional impact of IWM`s state of origin, this article discusses the limits of Indonesian government intervention in the management of migrants' remittances. This doctrinal legal research found that due to natural and technical restrictions, the government intervention is extremely limited.
Topic:
Government, Migrant Workers, Remittances, and Intervention
Political Geography:
Indonesia and Southeast Asia

7. An Econometric Approach on Money Laundering and Its Impact on Economic Growth (A Study of Pakistan)

Author:
Arfa Batool, Qamar Afaq Qureshi, and Shumaila Hashim
Publication Date:
01-2022
Content Type:
Journal Article
Journal:
South Asian Studies
Institution:
Department of Political Science, University of the Punjab
Abstract:
Money laundering is not the issue of today, as it is coming from the early days in many ways and the evil to society as it effects not only those peoples which are related to this evil as well as it also hits the noble peoples of the society by not paying the legal levies that increases the prices of products in the market. Research is carried out to check the impact of money laundering on the economy of Pakistan in an econometric way along with the other control variables (inflation, unemployment, remittances, number of crimes, total investment, and corruption). Money laundering is measured with informal economy and economic growth is measured with GDP. Annual data from 2000 to 2019 is employed for the purpose of analysis and suitable statistical tools are applied to derive the results. Through these test short run and long run effects are derived also. For analysis of the data, secondary data of two recent decades are used which is collected from the different sources i.e. economic surveys, published papers, and World Bank database etc. At the end it is concluded that money laundering has negative effect on the economy of Pakistan along with other variables.
Topic:
Corruption, Economic Growth, Financial Crimes, Inflation, Unemployment, Remittances, and Money Laundering
Political Geography:
Pakistan and South Asia

8. The Distribution of the Cost of Cuban Social Reproduction in 2016: The Relative Contributions of Domestic and Diasporic Households, the Private Sector, and the State

Author:
Anamary Maqueira Linares and Katherine Moos
Publication Date:
12-2022
Content Type:
Working Paper
Institution:
Political Economy Research Institute (PERI), University of Massachusetts Amherst
Abstract:
Drawing on feminist political economy and social reproduction theory, we propose an accounting framework for understanding the distributional role of household production, employment, remittances, and government social transfers in the social reproduction of the Cuban people. We apply this quantitative framework to available data and produce estimates for 2016. Our findings demonstrate that households—both domestic and diasporic—were the largest contributors to social reproduction in Cuba. Our empirical exercise provides insight for a qualitative conceptualization and analysis of the changing distribution of social reproduction in Cuba, especially regarding changes in state provisioning and employment. Results reveal how the actual distributional arrangements underlying Cuban social reproduction differ from the official commitments and goals of the Cuban Revolution and signal several potentially unsustainable self-reinforcing dynamics.
Topic:
Political Economy, Employment, Private Sector, and Remittances
Political Geography:
Cuba and Caribbean

9. EU Strategy on Voluntary Return and Reintegration: Crafting a Road Map to Better Cooperation with Migrants’ Countries of Origin

Author:
Camille Le Coz
Publication Date:
05-2021
Content Type:
Policy Brief
Institution:
Migration Policy Institute (MPI)
Abstract:
The return of irregular migrants and asylum seekers whose claims are denied and their sustainable reintegration into origin-country communities have long been priorities for many European policymakers. This has been driven by concerns about low rates of return among those ordered to leave and the implications of this for EU migration and asylum systems. Some are also concerned about the manner in which returns are carried out, with research suggesting that voluntary returns are both more humane and less costly than forced returns. In April 2021, the European Commission published its first EU Strategy on Voluntary Return and Reintegration. The strategy lays out principles to strengthen European assisted voluntary return and reintegration (AVRR) programs, increase voluntary returns, and improve the return process and post-return reintegration assistance. To achieve the strategy’s objectives, European policymakers will need to invest in an often-neglected dimension of AVRR—cooperation with migrants’ countries of origin. This policy brief explores the ways in which origin- and destination-country priorities on returns diverge, opportunities for cooperation where their interests align, and possible next steps for building on the principles outlined in the EU strategy.
Topic:
Development, International Cooperation, International Organization, European Union, Refugees, Asylum, Deportation, Remittances, and Immigration Policy
Political Geography:
Europe

10. From Unilateral Response to Coordinated Action: How Can Mobility Systems in Sub-Saharan Africa Adapt to the Public-Health Challenges of COVID-19?

Author:
Ling San Lau, Kate Hooper, and Monette Zard
Publication Date:
06-2021
Content Type:
Policy Brief
Institution:
Migration Policy Institute (MPI)
Abstract:
The COVID-19 pandemic challenged public health and migration management infrastructures in sub-Saharan Africa, like elsewhere, as never before. While many countries in the region had experience dealing with infectious disease outbreaks, including Ebola and yellow fever, the nature of transmission under COVID-19, among other factors, forced governments to reassess many of their public-health strategies and adopt strict guidelines to prevent pushing fragile and over-burdened health-care systems over the edge. However, border closures and other mobility restrictions brought unintended consequences, including stranding large numbers of people, imperiling the supply of essential goods and services, and cutting off income for border communities and prospective migrants. In addition, unilateral containment and mitigation policies prevented a coordinated approach to both public health and migration management. The policy brief examines the different strategies employed by governments in sub-Saharan Africa during the first year of the pandemic, and the limitations of unilateral action. It offers recommendations on how states and the international community can work together to restart migration and mobility and, looking forward, build capacity to respond to COVID-19 and future public health emergencies.
Topic:
International Cooperation, Migration, Governance, Employment, Refugees, Borders, Mobility, Public Health, COVID-19, Remittances, and Immigration Policy
Political Geography:
Africa and Sub-Saharan Africa