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TOP 10 MIGRATION ISSUES OF 2005
Issue #6: Remittances Reach New Heights
Domestic workers from the Philippines line up at a Philippine National Bank (PNB) remittance center in Hong Kong.
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December 2005
For centuries, immigrants have sent money home to help their families pay
for basic needs and consumer goods as well as investments in education and
small businesses. Since the late 1990s, international institutions and governments
have paid more attention to remittance flows to developing countries in Latin
America, Asia, and Africa, though data have often been hard to find and incomplete.
In 2005, research into the size of remittances and their role as a development
tool reached a new peak. Among the concerns are high costs for remitting money,
weak financial institutions, and antiquated lending and investment laws
in developing countries.
A flurry of studies and data estimates have been published this year, including
one from the World Bank in November that estimated that about $232 billion
will be remitted through formal channels in 2005, more than 70 percent of which
($167 billion) will go to developing countries. The countries receiving the
largest flows (in order) are India, China, Mexico, France, and the Philippines.
There is some consensus that remittances reduce poverty, but a vigorous debate
continues on whether they promote development as robustly as they could. Development
agencies, national governments, and foreign investors are now trying to figure
out how to incorporate remittances into their planning and policies.
For more information, please see the following articles:
Features:
• Understanding the Importance of Remittances
• The Oaxaca-US Connection and Remittances
• How Remittances Help Migrant Families
• Labor Export as Government Policy: The Case of the Philippines
• Migration and Development: Blind Faith and Hard-to-Find Facts
• Latino Remittances Swell Despite US Economic Slump
Special Issue: Migration and Development
• Migration as a Factor in Development and Poverty Reduction
• Using Remittances and Circular Migration to Drive Development
• Circular Migration: Keeping Development Rolling?
• Migration
and Development: Reframing the International Policy Agenda
• Soaring Remittances Raise New Issues
• Remittances, the Rural Sector, and Policy Options in Latin America
• Remittances from the United States in Context
• Refugee Diasporas, Remittances, Development, and Conflict
Country Profiles:
• Morocco: From Emigration Country to Africa's Migration Passage to
Europe
• Jordan: A Refugee Haven
• Nepal's Dependence on Exporting Labor
• Albania: Looking Beyond Borders
• Moldova Seeks Stability Amid Mass Emigration
• Tonga: Migration and the Homeland
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