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Remittances and the real exchange rate, Volume 1
Author:Lopez, Humberto; Molina, Luis; Bussolo, Maurizio; Country:Latin America;
Date Stored:2007/04/17Document Date:2007/04/01
Document Type:Policy Research Working PaperSubTopics:Achieving Shared Growth; Remittances; Economic Stabilization; Macroeconomic Management; Economic Theory & Research
Language:EnglishRegion:Latin America & Caribbean
Report Number:WPS4213Collection Title:Policy, Research working paper ; no. WPS 4213
Volume No:1  

Summary: Existing empirical evidence indicates that remittances have a positive impact on a good number of development indicators of recipient countries. Yet when flows are too large relative to the size of the recipient economies, as those observed in a number of Latin American countries, they may also bring a number of undesired problems. Among those probably the most feared in this context is the Dutch Disease. This paper explores the empirical evidence regarding the impact of remittances on the real exchange rate. The findings suggest that remittances indeed appear to lead to a significant real exchange rate appreciation. The paper also explores policy options that may somewhat offset the observed effect.

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