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Asia and Pacific > Thailand

You are looking at 1 - 2 of 2 items for :

  • Type: Journal Issue x
  • Remittances x
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Cover IMF Working Papers
Workers’ Remittances: An Overlooked Channel of International Business Cycle Transmission?
Mr. Adolfo Barajas
,
Mr. Ralph Chami
,
Mr. Christian H Ebeke
, and
Mr. Sampawende J Tapsoba
This paper shows that remittance flows significantly increase the business cycle synchronization between remittance-recipient countries and the rest of the world. Using both aggregate and bilateral remittances data in a panel data setting, the study demonstrates that this effect is robust and causal. Moreover, the econometric analysis reveals that remittance flows are more effective in channeling economic downturns than upswings from the sending countries to remittance-receiving economies. The analysis suggests that measures of openness and spillovers could be enhanced by accounting for the role of the remittances channel.
Keywords:
WP; remittance flow; Remittances; Business Cycle Synchronization; Trade; Spillovers; remittance inflow; sending country; remittance ratio; Business cycles; Foreign direct investment; Terms of trade; Global
Cover IMF Working Papers
A Gravity Model of Workers’ Remittances
Mr. Erik Lueth
and
Marta Ruiz-Arranz
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.
Keywords:
WP; remittance; remittance flow; GDP