Sri Lankas Remittance Economy

Author : Matt Withers
Publisher : Routledge
ISBN 13 : 0429843054
Total Pages : 178 pages
Book Rating : 4.51/5 ( download)

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Download or read book Sri Lanka’s Remittance Economy written by Matt Withers and published by Routledge. This book was released on 2019-05-16 with total page 178 pages. Available in PDF, EPUB and Kindle. Book excerpt: Employing a multiscalar approach to migration outcomes, spanning individual households, local communities, the macroeconomy and global patterns of capital accumulation, this book demonstrates how cumulatively causal processes at structural, institutional and agency levels have forged a precariously remittance-dependent economy in Sri Lanka. This book combines historical-structural analysis with qualitative research to contend that remittance inflows have reinforced patterns of uneven development in Sri Lanka. At the heart of this argument is a bold critique of remittance capital that inverts the migration–development nexus which has come to dominate international policymaking, with implications for Sri Lanka and other ‘remittance economies’ throughout the Global South. The author contends that temporary labour migration from Sri Lanka is a process of ‘migration-underdevelopment’, in which remittance inflows – ubiquitously considered a key source of capital for developing economies – are reinforcing of uneven development at multiple scales and produce unsustainable development outcomes. Offering a uniquely systematic critique of remittances as a source of developmental capital for countries of origin, such as Sri Lanka, this book will be of interest to academics in the field of development studies, migration studies and Asian studies.

Author : Matt Withers
Publisher :
ISBN 13 : 9780429453557
Total Pages : 178 pages
Book Rating : 4.58/5 ( download)

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Download or read book Sri Lanka's Remittance Economy written by Matt Withers and published by . This book was released on 2019 with total page 178 pages. Available in PDF, EPUB and Kindle. Book excerpt: Employing a multiscalar approach to migration outcomes, spanning individual households, local communities, the macroeconomy and global patterns of capital accumulation, this book demonstrates how cumulatively causal processes at structural, institutional and agency levels have forged a precariously remittance-dependent economy in Sri Lanka. This book combines historical-structural analysis with qualitative research to contend that remittance inflows have reinforced patterns of uneven development in Sri Lanka. At the heart of this argument is a bold critique of remittance capital that inverts the migration-development nexus which has come to dominate international policymaking, with implications for Sri Lanka and other 'remittance economies' throughout the Global South. The author contends that temporary labour migration from Sri Lanka is a process of 'migration-underdevelopment', in which remittance inflows - ubiquitously considered a key source of capital for developing economies - are reinforcing of uneven development at multiple scales and produce unsustainable development outcomes. Offering a uniquely systematic critique of remittances as a source of developmental capital for countries of origin, such as Sri Lanka, this book will be of interest to academics in the field of development studies, migration studies and Asian studies.

Author : Esperanza Lasagabaster
Publisher : World Bank Publications
ISBN 13 :
Total Pages : 30 pages
Book Rating : 4./5 ( download)

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Download or read book Sri Lanka's Migrant Labor Remittances written by Esperanza Lasagabaster and published by World Bank Publications. This book was released on 2005 with total page 30 pages. Available in PDF, EPUB and Kindle. Book excerpt: Remittances - money sent home by immigrant workers abroad - are hugely beneficial to Sri Lanka. Migrants' remittances have grown dramatically in recent years and are now estimated at US$1.5 billion annually. This national phenomenon is consistent with remittance trends in neighboring countries where remittance flows are growing as rapidly. The trend is likely to continue as many workers continue to look abroad for the chance to make a better living. The economic policy implications of these trends are significant. The Sri Lankan Central Bank is now debating the following key issues: the developmental impact of remittances; the high transaction costs associated with remittances; and the level of transparency and accountability in the remittance industry, especially the informal remittance sector. This paper highlights the key policy issues associated with each of these aspects of remittances with the objective of improving the public and private infrastructure for current and future flows. Building on recent World Bank research on remittances that prominently features South Asia, it has been prepared in recognition of the development potential of these flows. It discusses some of the key issues relating to the remittance industry in Sri Lanka. This paper complements the existing literature on migrant labor remittances to Sri Lanka and extends that literature by providing specific policy-relevant guidance on short and long-term policies for enhance enhancing the quality and outreach of rural remittance infrastructure.

Author : Esperanza Lasagabaster
Publisher :
ISBN 13 :
Total Pages : pages
Book Rating : 4.83/5 ( download)

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Download or read book Sri Lanka's Migrant Labor Remittances written by Esperanza Lasagabaster and published by . This book was released on 2012 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: Remittances-money sent home by immigrant workers abroad-are hugely beneficial to Sri Lanka. Migrants' remittances have grown dramatically in recent years and are now estimated at US$1.5 billion annually. This national phenomenon is consistent with remittance trends in neighboring countries where remittance flows are growing as rapidly. The trend is likely to continue as many workers continue to look abroad for the chance to make a better living. The economic policy implications of these trends are significant. The Sri Lankan Central Bank is now debating the following key issues: the developmental impact of remittances; the high transaction costs associated with remittances; and the level of transparency and accountability in the remittance industry, especially the informal remittance sector. This paper highlights the key policy issues associated with each of these aspects of remittances with the objective of improving the public and private infrastructure for current and future flows. Building on recent World Bank research on remittances that prominently features South Asia, it has been prepared in recognition of the development potential of these flows. It discusses some of the key issues relating to the remittance industry in Sri Lanka. This paper complements the existing literature on migrant labor remittances to Sri Lanka and extends that literature by providing specific policy-relevant guidance on short and long-term policies for enhance enhancing the quality and outreach of rural remittance infrastructure.

Author : Bilesha Weeraratne
Publisher :
ISBN 13 : 9789557397153
Total Pages : 28 pages
Book Rating : 4.52/5 ( download)

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Download or read book Migration & Remittances written by Bilesha Weeraratne and published by . This book was released on 2019 with total page 28 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Author :
Publisher : World Bank Publications
ISBN 13 : 082136345X
Total Pages : 182 pages
Book Rating : 4.54/5 ( download)

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Download or read book Global Economic Prospects 2006 written by and published by World Bank Publications. This book was released on with total page 182 pages. Available in PDF, EPUB and Kindle. Book excerpt: International migration, the movement of people across international boundaries to improve economic opportunity, has enormous implications for growth and welfare in both origin and destination countries. An important benefit to developing countries is the receipt of remittances or transfers from income earned by overseas emigrants. Official data show that development countries' remittance receipts totaled 160 billion in 2004, more than twice the size of official aid. This year's edition of Global Economic Prospects focuses on remittances and migration. The bulk of the book covers remittances.

Author : Judith Shaw
Publisher : Monash University Press
ISBN 13 : 9781876924683
Total Pages : 0 pages
Book Rating : 4.83/5 ( download)

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Download or read book Migrant Remittances and Low-income Households in Sri Lanka written by Judith Shaw and published by Monash University Press. This book was released on 2008 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: In many developing countries, remittances from workers who have migrated elsewhere have expanded in the last three decades to become a key balance of payments. In response to their growing economic significance, there has been increasing policy interest in harnessing remittances as a resource for macroeconomic and regional development, but few studies give detailed consideration to migrant workers and their families from a development policy perspective. Sri Lanka, a small low-income country, sends large numbers of workers into overseas labor markets. This working paper contributes to the building of a development policy framework by focusing on the main issues which affect remittance flows to households and the expenditure decisions of recipients in Sri Lanka. The study recommends appropriate corrective measures.

Author : Ibrahim Sirkeci
Publisher : World Bank Publications
ISBN 13 : 0821388266
Total Pages : 471 pages
Book Rating : 4.66/5 ( download)

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Download or read book Migration and Remittances During the Global Financial Crisis and Beyond written by Ibrahim Sirkeci and published by World Bank Publications. This book was released on 2012-05-30 with total page 471 pages. Available in PDF, EPUB and Kindle. Book excerpt: During the 2008 financial crisis, the possible changes in remittance-sending behavior and potential avenues to alleviate a probable decline in remittance flows became concerns. This book brings together a wide array of studies from around the world focusing on the recent trends in remittance flows. The authors have gathered a select group of researchers from academic, practitioner and policy making bodies. Thus the book can be seen as a conversation between the different stakeholders involved in or affected by remittance flows globally. The book is a first-of-its-kind attempt to analyze the effects of an ongoing crisis on remittance flows globally. Data analyzed by the book reveals three trends. First, The more diversified the destinations and the labour markets for migrants the more resilient are the remittances sent by migrants. Second, the lower the barriers to labor mobility, the stronger the link between remittances and economic cycles in that corridor. And third, as remittances proved to be relatively resilient in comparison to private capital flows, many remittance-dependent countries became even more dependent on remittance inflows for meeting external financing needs. There are several reasons for migration and remittances to be relatively resilient to the crisis. First, remittances are sent by the stock (cumulative flows) of migrants, not only by the recent arrivals (in fact, recent arrivals often do not remit as regularly as they must establish themselves in their new homes). Second, contrary to expectations, return migration did not take place as expected even as the financial crisis reduced employment opportunities in the US and Europe. Third, in addition to the persistence of migrant stocks that lent persistence to remittance flows, existing migrants often absorbed income shocks and continued to send money home. Fourth, if some migrants did return or had the intention to return, they tended to take their savings back to their country of origin. Finally, exchange rate movements during the crisis caused unexpected changes in remittance behavior: as local currencies of many remittance recipient countries depreciated sharply against the US dollar, they produced a “sale” effect on remittance behavior of migrants in the US and other destination countries.

Author : Erik Lueth
Publisher : International Monetary Fund
ISBN 13 :
Total Pages : 20 pages
Book Rating : 4.28/5 ( download)

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Download or read book Are Workers' Remittances a Hedge Against Macroeconomic Shocks? the Case of Sri Lanka written by Erik Lueth and published by International Monetary Fund. This book was released on 2007-02 with total page 20 pages. Available in PDF, EPUB and Kindle. Book excerpt: We estimate a vector error correction (VEC) model for Sri Lanka to determine the response of remittance receipts to macroeconomic shocks. This is the first attempt of its kind in the literature. We find that remittance receipts are procyclical and decline when the island's currency weakens, undermining their usefulness as shock absorber. On the other hand, remittances increase in response to oil price shocks, reflecting the fact that most overseas. Sri Lankan are employed in the Gulf states. The procyclicality of remittances calls into question the notion that remittances are largely motivated by altruism.

Author : Muttukrishna Sarvananthan
Publisher :
ISBN 13 :
Total Pages : 116 pages
Book Rating : 4.39/5 ( download)

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Download or read book Economy of the Conflict Region in Sri Lanka written by Muttukrishna Sarvananthan and published by . This book was released on 2007 with total page 116 pages. Available in PDF, EPUB and Kindle. Book excerpt: