The DOI matches its Crossref record; 18 of the 18 references it cites were found in a registry or an index.
Are Immigrant Remittance Flows a Source of Capital for Development?
Abstract
There is a general presumption in the literature and among policymakers that immigrant remittances play the same role in economic development as foreign direct investment and other capital flows, but this is an open question. We develop a model of remittances based on the economics of the family that implies that remittances are not profit-driven, but are compensatory transfers, and should have a negative correlation with GDP growth. This is in contrast to the positive correlation of profit-driven capital flows with GDP growth. We test this implication of our model using a new panel data set on remittances and find a robust negative correlation between remittances and GDP growth. This indicates that remittances may not be intended to serve as a source of capital for economic development.
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Cites
A Theory of Social Interactions
Becker, G. (1974) · National Bureau of Economic Research · doi:10.3386/w0042 · Cited by 2,530
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Stark, O. (1985) · Journal of Political Economy · doi:10.1086/261341 · Cited by 2,052
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Cox, D. (1987) · Journal of Political Economy · doi:10.1086/261470 · Cited by 1,236
Bernheim, B. D., Shleifer, A., & Summers, L. H. (1986) · Journal of Labor Economics · doi:10.1086/298126 · Cited by 1,167
Migration, Remittances, and the Family
Stark, O. (1988) · Economic Development and Cultural Change · doi:10.1086/451670 · Cited by 722
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Hegtvedt, K. A., & Turner, J. H. (1989) · Social Forces · doi:10.2307/2579266 · Cited by 643
A theory of remittances as an implicit family loan arrangement
Poirine, B. (1997) · World Development · doi:10.1016/s0305-750x(97)00121-6 · Cited by 431
Equity and bond flows to Latin America and Asia: the role of global and country factors
Chuhan, P., Claessens, S., & Mamingi, N. (1998) · Journal of Development Economics · doi:10.1016/s0304-3878(98)00044-3 · Cited by 425
Cited by
Remittances, financial development, and growth
Giuliano, P., & Ruiz-Arranz, M. (2009) · Journal of Development Economics · doi:10.1016/j.jdeveco.2008.10.005 · Cited by 1,205
Do remittances promote financial development?
Aggarwal, R., Demirgüç-Kunt, A., & Pería, M. S. M. (2011) · Journal of Development Economics · doi:10.1016/j.jdeveco.2010.10.005 · Cited by 687
Remittances, Household Expenditure and Investment in Guatemala
Adams, R. H., & Cuecuecha, A. (2010) · World Development · doi:10.1016/j.worlddev.2010.03.003 · Cited by 667
Remittances and economic growth: A meta-analysis
Cazachevici, A., Havranek, T., & Horvath, R. (2020) · World Development · doi:10.1016/j.worlddev.2020.105021 · Cited by 262
Acheampong, A. O., Appiah-Otoo, I., Dzator, J., & Agyemang, K. K. (2021) · Journal of Policy Modeling · doi:10.1016/j.jpolmod.2021.09.005 · Cited by 80
Metadata
- Authors
- Chami, R., Fullenkamp, C., & Jahjah, S.
- Venue
- IMF Staff Papers
- Published
- 2005-01-01
- Volume
- 52
- Issue
- 1
- Pages
- 55-81
- ISSN
- 1020-7635 (ISSN-L)
- 1564-5150
- OpenAlex
- W3123058367
- Cited by
- 1,015
- References
- 18
- FWCI
- 160.99
- Type
- journal article
- Language
- en
- Open access
- closed
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Contains information from the Semantic Scholar Academic Graph Datasets, made available under the ODC Attribution License (ODC-BY 1.0).
Semantic Scholar’s data is described in: Kinney, R., et al. (2023). The Semantic Scholar Open Data Platform. arXiv:2301.10140.
