By Donald F. Terry, Steven R. Wilson
Even if remittances account for billions of bucks each year and are actually serious to the survival of the households of hundreds of thousands of migrant employees and to the health and wellbeing of many nationwide economies, little has been performed to take advantage of this channel to supply the terrible with extra monetary ideas to profit their households and native groups. Drawing on survey proof, case stories, and cross-country and cross-region comparisons, past Small switch examines the phenomenon in hopes of contributing to overseas figuring out of remittances, selling higher regulations and practices during this region, and turning migrant staff’ hard-won assets right into a resource of improvement for his or her homelands. even supposing the publication emphasizes Latin the US and the Caribbean, chapters additionally learn Europe, the center East, and Asia, making the book’s coverage techniques acceptable around the globe.
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Extra resources for Beyond Small Change: Making Migrant Remittances Count
Org/pub 18 REMITTANCES AS A DEVELOPMENT TOOL 19 Bibliography De Soto, Hernando. 2001. The Hidden Architecture of Capitalism. htm) Hinojosa-Ojeda, Raul. 2003. Transnational Migration, Remittances and Development in North America: Globalization Lessons from the OaxaCalifornia Transnational Village/Community Project. Report prepared for MIF-IDB on behalf of the North American Integration Department, University of California, Los Angeles, and presented at MIF conference, Remittances as a Development Tool in Mexico, October 28, Mexico City.
In the Ecuadorian case, evidence suggests that the ability to send money home was the key motive for migration—even more than individual considerations of a better life elsewhere. In the MIF-PHC survey, 83 percent of respondents said they agreed with the statement, “One of the principal reasons that people leave Ecuador is so that they Copyright © by the Inter-American Development Bank. All rights reserved. ” Among the five countries examined in the 2003 MIF-PHC studies, Ecuador is the only one that experienced a large-scale emigration after the overall surge in remittances began in the late 1990s.
Org/pub CHAPTER 2 SURO arriving for one to three years. Even in El Salvador, where emigration has dropped in the years since the civil war era, 29 percent of recipients said their remittances had been coming for three years or less. The very rapid growth in remittances as a crisis response, followed by sustained flows, ensures that remittances become an essential element of a nation’s economy. 1 percent of El Salvador’s gross domestic product in 2002 (MIF-IDB 2003). Under this scenario, transnationalism becomes an essential characteristic of a nation’s population.