Choose an application

• Reference Manager
• EndNote
• RefWorks (Direct export to RefWorks)

This paper analytically explores and empirically tests a number of hypotheses to explain the rapid growth in transition economies. The paper finds that growth in the Commonwealth of Independent States (CIS) has been higher because of the recovery of lost output, progress in macroeconomic stabilization and market reforms, and favorable external conditions. Some of these factors are unlikely to continue for a very long time. The challenge is to improve the investment climate in the non-primary sectors, which will require broadening the scope of macroeconomic reform into a second generation of reforms encompassing structural and institutional areas.

Exports and Imports --- Macroeconomics --- Production and Operations Management --- Remittances --- Empirical Studies of Trade --- Macroeconomics: Consumption --- Saving --- Wealth --- Production --- Cost --- Capital and Total Factor Productivity --- Capacity --- International economics --- Terms of trade --- Government consumption --- Total factor productivity --- Outward remittances --- International finance --- Economic policy --- nternational cooperation --- Consumption --- Economics --- Industrial productivity --- Emigrant remittances --- Russian Federation --- Economic development --- Econometric models. --- Nternational cooperation

Choose an application

• Reference Manager
• EndNote
• RefWorks (Direct export to RefWorks)

Over the past decades, workers' remittances have grown to become one of the largest sources of financial flows to developing countries, often dwarfing other widely-studied sources such as private capital and official aid flows. While it is undeniable that remittances have poverty-alleviating and consumption-smoothing effects on recipient households, a key empirical question is whether they also serve to promote long-run economic growth. This study tackles this question and addresses the main shortcomings of previous empirical work, focusing on the appropriate measurement, and incorporating an instrument that is both correlated with remittances and would only be expected to affect growth through its effect on remittances. The results show that, at best, workers' remittances have no impact on economic growth.

Capital movements. --- Economic development. --- Emigrant remittances. --- Emigration and immigration -- Economic aspects. --- Econometrics --- Exports and Imports --- Investments: General --- Macroeconomics --- Remittances --- Aggregate Factor Income Distribution --- Estimation --- Investment --- Capital --- Intangible Capital --- Capacity --- International economics --- Econometrics & economic statistics --- Outward remittances --- Income --- Estimation techniques --- Capital accumulation --- International finance --- Emigrant remittances --- Econometric models --- Saving and investment --- United States

Choose an application

• Reference Manager
• EndNote
• RefWorks (Direct export to RefWorks)

The IMF Research Bulletin, a quarterly publication, selectively summarizes research and analytical work done by various departments at the IMF, and also provides a listing of research documents and other research-related activities, including conferences and seminars. The Bulletin is intended to serve as a summary guide to research done at the IMF on various topics, and to provide a better perspective on the analytical underpinnings of the IMF’s operational work.

Exports and Imports --- Macroeconomics --- Public Finance --- Real Estate --- Infrastructure --- Housing Supply and Markets --- Remittances --- Price Level --- Inflation --- Deflation --- Education: General --- Economic Development: Urban, Rural, Regional, and Transportation Analysis --- Housing --- Globalization: General --- Property & real estate --- International economics --- Education --- Public finance & taxation --- Globalization --- Housing prices --- Outward remittances --- Prices --- Balance of payments --- National accounts --- International finance --- Emigrant remittances --- Saving and investment --- Turkey

Choose an application

• Reference Manager
• EndNote
• RefWorks (Direct export to RefWorks)

This paper creates the first dataset of bilateral remittance flows for a limited set of developing countries and estimates a gravity model for workers' remittances. We find that most of the variation in bilateral remittance flows can be explained by a few gravity variables. The evidence on the motives to remit is mixed, but altruism may be less of a factor than commonly believed. Most strikingly, remittances do not seem to increase in the wake of a natural disaster and appear aligned with the business cycle in the home country, suggesting that remittances may not play a major role in limiting vulnerability to shocks. To encourage remittances and maximize their economic impact, policies should be directed at reducing transaction costs, promoting financial sector development, and improving the business climate.

Emigrant remittances --- Capital movements --- Econometric models. --- Capital flight --- Capital flows --- Capital inflow --- Capital outflow --- Flight of capital --- Flow of capital --- Movements of capital --- Immigrant remittances --- Remittances, Emigrant --- Balance of payments --- Foreign exchange --- International finance --- Exports and Imports --- Foreign Exchange --- Natural Disasters --- Remittances --- Current Account Adjustment --- Short-term Capital Movements --- Climate --- Natural Disasters and Their Management --- Global Warming --- International economics --- Currency --- Natural disasters --- Multiple currency practices --- Current account --- Outward remittances --- Bangladesh

Choose an application

• Reference Manager
• EndNote
• RefWorks (Direct export to RefWorks)

We estimate a vector error correction (VEC) model for Sri Lanka to determine the response of remittance receipts to macroeconomic shocks. This is the first attempt of its kind in the literature. We find that remittance receipts are procyclical and decline when the island's currency weakens, undermining their usefulness as shock absorber. On the other hand, remittances increase in response to oil price shocks, reflecting the fact that most overseas. Sri Lankan are employed in the Gulf states. The procyclicality of remittances calls into question the notion that remittances are largely motivated by altruism.

Exports and Imports --- Foreign Exchange --- Macroeconomics --- Remittances --- Geographic Labor Mobility --- Immigrant Workers --- Macroeconomic Analyses of Economic Development --- Development Planning and Policy: Trade Policy --- Factor Movement --- Foreign Exchange Policy --- Time-Series Models --- Dynamic Quantile Regressions --- Dynamic Treatment Effect Models --- Diffusion Processes --- Energy: Demand and Supply --- Prices --- International economics --- Currency --- Foreign exchange --- Outward remittances --- Oil prices --- Inward remittances --- Exchange rates --- Balance of payments --- International finance --- Emigrant remittances --- Migrant remittances --- Sri Lanka --- Financial crises --- Economic aspects. --- Mathematical models.