The flow of remittances to Latin American and Caribbean countries is the highest and fastest growing in the world, exceeding foreign direct investment and net official development assistance to the region. Remittances surpass tourism income and almost always exceed revenues from the largest...

This paper deals with migrants' role in stimulating development in their countries of origin, outlining the three major channels through which migration can affect development: recruitment, remittances, and returns. It next turns to the North American Free Trade Agreement (NAFTA), assessing the...

During the past two years, the Consumer and Community Affairs (CCA) division of the Federal Reserve Bank of Chicago held a series of conferences focused on increasing access to financial services for immigrants. The conference series was conducted under the umbrella of CCA’s Center for the...

Summary and discussion of the three papers in this session: "Leveraging remittances for development" by Dilip Ratha; "Remittances and their microeconomic impacts: evidence from Latin America" by Catalina Amuedo-Dorantes; and "The relationship between international migration, trade, and...

We use data on border enforcement and macroeconomic indicators from the United States and Mexico to estimate a two-country business cycle model of labor migration and remittances. The model matches the cyclical dynamics of labor migration to the United States and documents how remittances to...

Migrant remittances have become a major source of external development finance. They can play an effective role in reducing poverty. And they provide a convenient angle for approaching the complex migration agenda. ; Remittances are personal flows from migrants to their friends and families and...

The interactions among trade, international migration, and economic development in migrant-sending areas are complex, and paradoxes abound. This paper summarizes global trends in world migration and remittances, discusses some paradoxes surrounding the trade-migration-development relationship,...