Migration's New Payoff. Devesh Kapur and John McHale.
by Kapur, Devesh; ProQuest Information and Learning Company.
Series: SIRS Enduring Issues 2005Article 21Business. Publisher: Foreign Policy, 2003ISSN: 1522-3191;.Subject(s): Capital movements | Developing countries -- Economic conditions | Developing countries -- Politics and government | Electronic funds transfers | Emigrant remittances | Foreign exchange | Migrant laborDDC classification: 050 Summary: "Every day, migrants working in rich countries send money to their families in the developing world. It's just a few hundred dollars here, a few hundred dollars there. But last year, these remittances added up to $80 billion, outstripping foreign aid and ranking as one of the biggest sources of foreign exchange for poor countries. Following a boom in the 1990s, this flow of money is lifting entire countries out of poverty, creating new financial channels, and reshaping international politics." (FOREIGN POLICY) This article discusses the importance of remittances for developing nations and reveals that "unlike foreign aid, the flow of remittances is not subject to the whims of donating governments, or held hostage by onerous conditions imposed by multilateral lending institutions. And in contrast to foreign investment or loans, remittances are insulated from the herd behavior of private investors and money managers."| Item type | Current location | Call number | Status | Date due |
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High School - old - to delete | REF SIRS 2005 Business Article 21 (Browse shelf) | Available |
Articles Contained in SIRS Enduring Issues 2005.
Originally Published: Migration's New Payoff, Nov./Dec. 2003; pp. 48-57.
"Every day, migrants working in rich countries send money to their families in the developing world. It's just a few hundred dollars here, a few hundred dollars there. But last year, these remittances added up to $80 billion, outstripping foreign aid and ranking as one of the biggest sources of foreign exchange for poor countries. Following a boom in the 1990s, this flow of money is lifting entire countries out of poverty, creating new financial channels, and reshaping international politics." (FOREIGN POLICY) This article discusses the importance of remittances for developing nations and reveals that "unlike foreign aid, the flow of remittances is not subject to the whims of donating governments, or held hostage by onerous conditions imposed by multilateral lending institutions. And in contrast to foreign investment or loans, remittances are insulated from the herd behavior of private investors and money managers."
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