Table of Contents Author Guidelines Submit a Manuscript
Table of Contents Alerts

To receive news and publication updates for International Scholarly Research Notices, enter your email address in the box below.

ISRN Economics
Volume 2012 (2012), Article ID 218071, 14 pages
http://dx.doi.org/10.5402/2012/218071
Research Article

The Macroeconomic Consequences of Remittances

Dennis W. Jansen,1 Diego E. Vacaflores,2 and George S. Naufal3,4

1Department of Economics, Texas A&M University, College Station, TX 77843, USA
2Department of Finance and Economics, Texas State University-San Marcos, San Marcos, TX 78666, USA
3Department of Economics, American University of Sharjah, Sharjah, UAE
4IZA, 53113 Bonn, Germany

Received 30 May 2012; Accepted 22 July 2012

Academic Editors: J. M. Labeaga, U. Pascual, and M. Tsionas

Copyright © 2012 Dennis W. Jansen et al. This is an open access article distributed under the Creative Commons Attribution License, which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited.

Linked References

  1. Inter-American Development Bank, Remittances to Latin America and the Caribbean in 2011, Regaining Growth, Washington, DC, USA, 2012.
  2. P. K. Narayan, S. Narayan, and S. Mishra, “Do remittances induce inflation? Fresh evidence from developing countries,” Southern Economic Journal, vol. 77, no. 4, pp. 914–933, 2011. View at Google Scholar · View at Scopus
  3. D. E. Vacaflores, “Remittances, monetary policy and partial sterilization,” Southern Economic Journal. In press.
  4. C. Amuedo-Dorantes and S. Pozo, “Workers' remittances and the real exchange rate: a paradox of gifts,” World Development, vol. 32, no. 8, pp. 1407–1417, 2004. View at Publisher · View at Google Scholar · View at Scopus
  5. P. A. Acosta, E. K. K. Lartey, and F. S. Mandelman, “Remittances and the Dutch disease,” Journal of International Economics, vol. 79, no. 1, pp. 102–116, 2009. View at Publisher · View at Google Scholar · View at Scopus
  6. E. Funkhouser, “Migration from Nicaragua: some recent evidence,” World Development, vol. 20, no. 8, pp. 1209–1218, 1992. View at Google Scholar · View at Scopus
  7. G. Hanson, “Emigration, remittances, and labor force participation in Mexico,” Integration and Trade Journal, vol. 27, pp. 73–103, 2007. View at Google Scholar
  8. R. Chami, T. Cosimano, and M. Gapen, “Beware of Emigrants Bearing Gifts: Optimal Fiscal and Monetary Policy in the Presence of Remittances,” IMF Working Paper WP/06/61, 2008.
  9. D. W. Jansen and D. E. Vacaflores, “Remittances, Migration and the Small Open Economy,” Working Paper, 2011.
  10. L. R. C. áceres and N. Saca, “What Do Remittances Do? Analyzing the Private Remittance Transmission Mechanism in El Salvador,” IMF Working Paper, WP/06/250, 2006.
  11. U. O. Osili, “Remittances and savings from international migration: theory and evidence using a matched sample,” Journal of Development Economics, vol. 83, no. 2, pp. 446–465, 2007. View at Publisher · View at Google Scholar · View at Scopus
  12. F. S. Mandelman, “Monetary and exchange rate policy under remittance fluctuations,” Journal of Development Economics. In press.
  13. D. E. Vacaflores, R. P. Kishan, and J. Trinidad, “Remittances, international reserves, and exchange rate regimes,” Texas State University Working Paper, 2012.
  14. R. Lucas and O. Stark, “Motivations to remit: evidence from botswana,” Journal of Political Economy, vol. 93, no. 5, pp. 901–918, 1985. View at Google Scholar
  15. R. Chami, C. Fullenkamp, and S. Jahjah, “Are immigrant remittance flows a source of capital for development?” IMF Staff Papers, vol. 52, no. 1, pp. 55–81, 2005. View at Google Scholar · View at Scopus
  16. J. A. Frankel, “Are Bilateral Remittances Countercyclical?” NBER Working Paper No. 15419, 2009.
  17. A. Barajas, R. Chami, C. Fullenkamp, M. Gapen, and P. Montiel, “Do Worker’s Remittances Promote Economic Growth?” IMF Working Paper WP/09/153, 2009.
  18. I. C. Neagu and M. Schiff, “Remittance Stability, Cyclicality and Stabilizing Impact in Developing Countries,” World Bank Policy Research Paper No. 5077, 2009.
  19. C. B. Durdu and S. Sayan, “Emerging market business cycles with remittance fluctuations,” IMF Staff Papers, vol. 57, no. 2, pp. 303–325, 2010. View at Publisher · View at Google Scholar · View at Scopus
  20. J. Durand, W. Kandel, E. A. Parrado, and D. S. Massey, “International migration and development in Mexican communities,” Demography, vol. 33, no. 2, pp. 249–264, 1996. View at Google Scholar · View at Scopus
  21. C. Woodruff and R. Zenteno, “Migration networks and microenterprises in Mexico,” Journal of Development Economics, vol. 82, no. 2, pp. 509–528, 2007. View at Publisher · View at Google Scholar · View at Scopus
  22. A. Cox-Edwards and M. Ureta, “International migration, remittances, and schooling: evidence from El Salvador,” Journal of Development Economics, vol. 72, no. 2, pp. 429–461, 2003. View at Publisher · View at Google Scholar · View at Scopus
  23. A. Cox-Edwards and E. Rodríguez-Oreggia, “Remittances and labor force participation in Mexico: an analysis using propensity score matching,” World Development, vol. 37, no. 5, pp. 1004–1014, 2009. View at Publisher · View at Google Scholar · View at Scopus
  24. E. Funkhouser, “The effect of emigration on the labor market outcomes of sender household: a longitudinal approach using data from nicaragua,” Well-Being and Social Policy, vol. 2, no. 2, pp. 5–25, 2006. View at Google Scholar
  25. P. A. Samuelson, “The transfer problem and transport costs, II: analysis of effects of trade impediments,” The Economic Journal, vol. 64, no. 254, pp. 264–289, 1954. View at Google Scholar
  26. J.-O. Hairault, L. Patureau, and T. Sopraseuth, “Overshooting and the exchange rate disconnect puzzle: a reappraisal,” Journal of International Money and Finance, vol. 23, no. 4, pp. 615–643, 2004. View at Publisher · View at Google Scholar · View at Scopus
  27. F. Karamé, L. Patureau, and T. Sopraseuth, “Limited participation and exchange rate dynamics: does theory meet the data?” Journal of Economic Dynamics and Control, vol. 32, no. 4, pp. 1041–1087, 2008. View at Publisher · View at Google Scholar · View at Scopus
  28. R. Kollmann, “Monetary policy rules in the open economy: effects on welfare and business cycles,” Journal of Monetary Economics, vol. 49, no. 5, pp. 989–1015, 2002. View at Publisher · View at Google Scholar · View at Scopus
  29. F. Ghironi, “Macroeconomic interdependence under incomplete markets,” Journal of International Economics, vol. 70, no. 2, pp. 428–450, 2006. View at Publisher · View at Google Scholar · View at Scopus
  30. P. Giuliano and M. Ruiz-Arranz, “Remittances, financial development, and growth,” Journal of Development Economics, vol. 90, no. 1, pp. 144–152, 2009. View at Publisher · View at Google Scholar · View at Scopus
  31. R. Aggarwal, A. Demirgüç-Kunt, and M. S. M. Pería, “Do remittances promote financial development?” Journal of Development Economics, vol. 96, no. 2, pp. 255–264, 2011. View at Publisher · View at Google Scholar · View at Scopus
  32. C. B. Keely and Bao Nga Tran, “Remittances from labor migration: evaluations, performance and implications,” International Migration Review, vol. 23, no. 3, pp. 500–525, 1989. View at Google Scholar · View at Scopus
  33. M. León-Ledesma and M. Piracha, “International migration and the role of remittances Eastern Europe,” International Migration, vol. 42, no. 4, pp. 66–83, 2004. View at Publisher · View at Google Scholar · View at Scopus
  34. H. De Haas, “Migration, remittances and regional development in Southern Morocco,” Geoforum, vol. 37, no. 4, pp. 565–580, 2006. View at Publisher · View at Google Scholar · View at Scopus
  35. D. Ratha, “Worker's remittances: an important and stable source of external development finance,” in World Bank, Global Development Finance, pp. 157–175, 2003. View at Google Scholar
  36. World Bank, “The development impact of workers’ remittances in latin America, vol. 2: detailed findings,” Tech. Rep. 37026, Washington, DC, USA.