In many developing and transition economies, remittances from labor migrants constitute a large share of households’ disposable incomes. Economy-wide, remittances are often a major source of external finance that surpasses official development assistance and foreign direct investment. In this...

In many developing countries international remittances are an important catalyst in economic development and the reduction of poverty. The increasing importance of international remittances has stimulated research about their impact on economic development. Currently, the debate about the effect...