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Determinants of expatriate workers' remittances in North Africa and Europe, Volume 1
 
Author:Elbadawi, Ibrahim; de Rezende Rocha, Robert; Collection Title:Policy Research working papers ; no. WPS 1038. Transition and macro - adjustment
Country:Africa; Europe and Central Asia; Date Stored:1992/11/01
Document Date:1992/11/30Document Type:Policy Research Working Paper
SubTopics:Environmental Economics & Policies; Economic Theory & Research; Banks & Banking Reform; Economic Conditions and Volatility; InequalityLanguage:English
Major Sector:(Historic)Social ProtectionRegion:Europe and Central Asia; Africa
Report Number:WPS1038Sub Sectors:Labor Markets & Employment
Volume No:1  

Summary: The authors review the theoretical literature on the determinants of international workers' remittances and then posit an empirical model that accounts for demographic, portfolio, and macroeconomic factors that - together with special incentive policies - determine official remittances. They estimated the model using data from five major labor-exporting countries of North Africa and Europe: Morocco, Portugal, Tunisia, Turkey, and the former Yugoslavia. The econometric results strongly corroborate the model's predictions and reveal interesting policy implications. In planning for the future growth of remittances, labor-exporting countries should explicitly take into consideration the history of migration, since an aging labor force abroad will be less inclined to remit. Labor-exporting countries should also account for the economic prospects of the major labor-receiving countries and for the geographical distribution of their migrant labor. The authors' results show that remittances are significantly affected by economic policies in the home (labor-exporting) countries. Special incentive schemes cannot substitute for a stable, credible macroeconomic policy.

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