The poverty-reducing impact of remittances can be enhanced by policy changes in both the migrants’ countries of origin - mostly developing countries - and their new home countries. This is the main conclusion which emerges from the recently published “Remittances: Development Impact and Future Prospects.”
This collection of conference papers explores several aspects of remittances, including maximizing their development impact, strengthening the formal financial infrastructure for sending them, and increasing transparency for informal transmitting methods. Special attention is given to the role of remittances in conflict countries, decreasing onerous transaction costs and calculating the impact of remittances on poverty alleviation.
The IDB has also recently released an excellent website on migrant remittances.
Addendum: video from a presentation and discussion of this book has been posted online.