lecture note 10

1 the eu and the middle income commonwealth of

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Unformatted text preview: es of III. INTERNATIONAL MIGRANT REMITTANCES AND THEIR ROLE IN DEVELOPMENT Chart III.1. Migrants’ remittances and other capital flows to developing countries, 1988-2002 Billions of US dollars Portofolio investment flows Migrant remittances FDI Official development assistance Billions of USD 300 250 200 150 100 50 0 1988 1990 1992 1994 1996 1998 2000 2002 Note: “Remittances” refer to the sum of the “compensation of employees”, “worker’s remittances” and “other current transfers in other sectors”; “Official flows” include general government transfers both current and capital. Source: IMF, Balance of Payments Statistics Yearbook, various issues. Statlink: http://dx.doi.org/10.1786/532553067068 to 216% of exports from the West Bank and Gaza, 90% of exports from Cap Verde, over 75% of exports from Albania and Uganda, and over 50% of exports from Bosnia and Herzegovina, Sudan and Jordan. Remittances were also equivalent to more then 40% of the GDP in Tonga, more then 35% of the GDP in the West Bank and Gaza, more then 25% of the GDP in Lesotho, and more then 20% of the GDP in Cap Verde, Jordan and Moldova (Table III.1). Table III.1. Top 30 developing countries with the highest remittances received as a percentage of GDP, 2002 Remittances as % of GDP Remittances as % of GDP Remittances as % of GDP Tonga 41.9 Albania 15.6 Uganda 9.2 West Bank and Gaza 36.7 FYROM 15.2 Guatemala 8.9 Lesotho 25.8 Nicaragua 14.6 Pakistan 8.9 Jordan 24.0 El Salvador 14.5 Morocco 8.8 Cape Verde 23.3 Republic of Yemen 12.5 Georgia 8.3 Moldova 22.8 Dominican Republic 11.7 Sri Lanka 7.9 Vanuatu 18.4 Ghana 11.3 Latvia 7.5 Bosnia and Herzegovina 18.4 Armenia 11.2 Sudan 7.2 Ethiopia 6.8 Bangladesh 6.6 Guyana 18.2 Honduras 11.1 Jamaica 16.7 Philippines 9.9 Note: “Remittances” refer to the sum of the “compensation of employees”, “worker’s remittances”, and “other current transfers in other sectors”. Source: IMF, Balance of Payments Statistics Yearbook, 2003; World Bank, World Development Indicators, 2003. Statlink: http://dx.doi.org/10.1786/614135851320 142 INTERNATIONAL MIGRATION OUTLOOK: SOPEMI 2006 EDITION – ISBN 92-64-03627-X – © OECD 2006 III. INTERNATIONAL MIGRANT REMITTANCES AND THEIR ROLE IN DEVELOPMENT Chart III.2. Remittance flows to developing countries by region, 1996-2002 Percentages Asia Africa Eastern Europe Middle East Latin America and Caribbean 12 11 11 10 10 11 10 42 46 40 42 43 41 44 18 17 16 15 15 12 12 12 11 10 15 14 13 12 18 17 19 19 20 22 21 1996 1997 1998 1999 2000 2001 2002 Source: IMF, Balance of Payments Statistics Yearbook, 2003. Statlink: http://dx.doi.org/10.1786/754468305471 Migrant remittance flows are unequally distributed in the world, with Asia receiving the lion’s share. Since 1996, 40 to 46% of the annual remittance flows were received by Asia, followed by Latin America and the Caribbean with 17 to 22%, and Central and Eastern Europe with 15 to 18% (Chart III.2). This is not surprising, since Asia is the most populous region of the world and also has the most numerous diaspora. It is also not surprising that the top remittan...
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