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remittances

Japan’s new immigration policy may be a development game changer for South Asia

Supriyo De's picture
In observance of the International Migrants Day, Dec 18 

Japan has embarked on a major migration policy shift with a new law that passed the Upper House of the Diet in December 2018. Starting in April 2019, the new law will allow inflows of two types of foreign workers: (i) low-skilled foreign workers who would reside in Japan for up to five years and work in 14 specific sectors, including farming, construction, hospitality and shipbuilding sectors, but shall not be allowed to bring their family members, and (ii) foreign workers with a higher level of skills who would be allowed to bring their family members and could be allowed to live in Japan indefinitely (see Migration and Development Brief 30). According to news reports, Japan plans to induct 340,000 migrant workers over the next five years, though this may not be sufficient to compensate for a declining population which fell by 373,000 in 2017.

Making remittances work for the poor-Three lessons learned from three Greenback 2.0 Remittance Champion Cities in Southeast Europe

In observance of the International Migrants Day, Dec 18 

“Mother, you shall not fear as long as your sons live in Germany” goes a popular folk song in Kosovo. Its equivalent in Bosnia and Herzegovina says “I am from Bosnia, take me to America” and in Albania the most famous morning show goes by the motto “Love your country, like Albania loves America”.  In these countries, migration and remittances are synonyms of economic prosperity in the homeland.

Record high remittances to low- and middle-income countries in 2017

Dilip Ratha's picture
The World Bank’s latest Migration and Development Brief shows that officially recorded remittances to developing countries touched a new record—$466 billion in 2017, up 8.5 percent over 2016. The countries that saw the highest inflow in remittances were India with $69 billion, followed by China ($64 billion), the Philippines ($33 billion), Mexico ($31 billion), Nigeria ($22 billion), and Egypt ($20 billion).

Migration, Remittances and Diaspora Data: Need for International Cooperation

Sonia Plaza's picture
In observance of the International Migrants Day, Dec 18

Despite that several countries have made a call of action for enhancing data collection and capacity building of the national statistical systems to improve migration data, there has not been much progress. The High Level on International Migration in 2013 “emphasized the need for reliable statistical data on international migration, including when possible on the contributions of migrants to development in both origin and destination countries.”

Remittances Market in Latin America: Will mobile money facilitate financial inclusion?

Sonia Plaza's picture
According to the recently-released Migration and Development Brief 26, Latin America and the Caribbean region achieved the most rapid growth in remittance inflows, which rose by an estimated 4.8 percent in 2015, owing to the recovery in labor markets in the United States.

Reaping the blessing of migration in MENA: Mobilizing diaspora resources for private sector development

Sherif Maher Hassan's picture

MENA has always had low private investment both domestic and foreign. However, the political and economic unrests post the ‘Arab Spring’ raised the necessity of a dynamic and growing private sector than ever before. The dominant economic role of the public sector in MENA cannot endure, especially with the escalating unemployment rates, budget deficits, heavy dependence on food and manufactured imports, vulnerability to oil and foreign currency swings besides the challenging social and political environments.

A flower for Sharon Russell

Dilip Ratha's picture

It was early 2001, I think, when I got a call inquiring about future-flow securitization of remittances. She was preparing for a talk at the UN, the caller said, and she was intrigued by yet another way in which remittances impact the migrants’ country of origin. That was two years before I began my research on remittances. The caller that day was Dr. Sharon Stanton Russell, a pioneer in the field of remittances and migration, a mainstay of migration studies at MIT and the Inter-University Committee on International Migration (IUCIM).

Sharon passed away on February 27, 2013. More than 300 people attended her funeral on March 23.

One additional African migrant creates about USD 2,800 (a year) in additional exports for his/her country of origin

Raju Jan Singh's picture

Standard trade literature tends to view migration and trade as substitutes. In that framework, either workers migrate to satisfy foreign demand or foreign demand is satisfied by trading goods and services. There is a growing literature, however, emphasizing that migrant networks facilitate bilateral economic transactions by disseminating their preferences for goods from their country of origin and/or by removing informational and cultural barriers between hosts and origin countries. In this case, migration would reduce transaction costs associated with trade and may be a complement rather than a substitute to trade.

Migration and post-2015 development goals

Dilip Ratha's picture

On the eve of the international migrants day, many people are debating how migration might feature in the post-2015 development goals. There is no doubt that migration - international and internal - affects several of the current MDGs: poverty, education, health of children and mothers, environment, gender, and also several elements of a global public good such a role in financial and natural crisis. Migration directly impacts the migrants, their families and their employers, and also impacts development indirectly. Development in turn impacts migration. There is no doubt that migration is a very important driver of development. And yet, since it directly challenges national identity and sovereignty, it is not easy to arrive at a consensus on specific migration targets.

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