Outlook for Remittance Flows 2011-12 : Recovery After the Crisis, But Risks Lie Ahead

Mohapatra, Sanket; Ratha, Dilip; Silwa, Ani

Outlook for Remittance Flows 2011-12 : Recovery After the Crisis, But Risks Lie Ahead

Autores

Mohapatra, Sanket

Ratha, Dilip

Silwa, Ani

Editor

World Bank, Washington, DC

Descripción

Officially recorded remittance flows to developing countries are estimated to increase by 6 percent to $325 billion in 2010. This marks a healthy recovery from a 5.5 percent decline registered in 2009. Remittance flows are expected to increase by 6.2 percent in 2011 and 8.1 percent in 2012, to reach $374 billion by 2012. This outlook for remittance flows, however, is subject to the risks of a fragile global economic recovery, volatile currency and commodity price movements, and rising anti-immigration sentiment in many destination countries. From a medium-term view, three major trends are apparent: (a) a high level of unemployment in the migrant-receiving countries has prompted restrictions on new immigration; (b) the application of mobile phone technology for domestic remittances has failed to spread to cross-border remittances; and (c) developing countries are becoming more aware of the potential for leveraging remittances and diaspora wealth for raising development finance.

Palabras clave

ACCESS TO FINANCE, ACCESS TO REMITTANCE SERVICES, ACROSS BORDERS, AGGREGATE DEMAND, ASSETS, AVERAGE REMITTANCE, BALANCE OF PAYMENTS, BALANCE OF PAYMENTS STATISTICS, BANK ACCOUNTS, BANK DEPOSITS, BANKING REGULATIONS, BENEFICIARY, BILLS, BOND, BOND INSTRUMENTS, BONDS, BRANCHLESS BANKING, CAPITAL FLOWS, CENTRAL BANK, CENTRAL BANKS, CHECKS, CLARITY, CLEARING HOUSE, COMMERCIAL BANKS, COMMODITY PRICE, COMMODITY PRICES, COMMUNITY BANKS, COMPENSATION OF EMPLOYEES, CONSUMER PROTECTION, CONVENTIONAL BANKS, COUNTRIES OF ORIGIN, COUNTRY OF RESIDENCE, CREDIT COOPERATIVE, CREDIT ENHANCEMENT, CREDIT ENHANCEMENTS, CREDIT RATING, CREDIT RATING AGENCIES, CREDIT SCORES, CREDIT SCORING, CREDIT UNIONS, CREDITOR, CREDITWORTHINESS, CURRENCY EXCHANGE, CURRENT POPULATION, DATA ON REMITTANCES, DEBT SUSTAINABILITY, DEPOSITS, DEPRECIATION, DEVALUATION, DEVELOPING COUNTRIES, DEVELOPING COUNTRY, DEVELOPMENT FINANCE, DIASPORA, DIVERSIFICATION, DOLLAR PRICES, DOMESTIC REMITTANCES, DOWNWARD PRESSURE, DUE DILIGENCE, ECONOMIC CRISIS, ECONOMIC DOWNTURNS, ECONOMIC GROWTH, EMIGRATION, EMPLOYER, EMPLOYERS, ENVIRONMENT FOR REMITTANCES, EQUITY FLOWS, ETHNIC GROUPS, EXCHANGE RATE, EXCHANGE RATES, EXTERNAL FINANCING, FAMILIES, FEDERAL RESERVE, FINANCIAL COLLAPSE, FINANCIAL CRISIS, FINANCIAL EMPOWERMENT, FINANCIAL INSTITUTIONS, FINANCIAL LITERACY, FINANCIAL SERVICES, FINANCIAL SYSTEM, FOREIGN DIRECT INVESTMENT, FUTURE REMITTANCE, FUTURE REMITTANCES, GLOBAL DEMAND, GLOBAL ECONOMY, GLOBAL REMITTANCE, GLOBAL REMITTANCE MARKET, GROWTH OF REMITTANCES, GROWTH RATE, HIGH-INCOME COUNTRIES, HIGH-INCOME COUNTRY, HOME COUNTRY, HOST COUNTRIES, HOST COUNTRY, HOUSEHOLDS, ILLEGAL IMMIGRATION, IMMIGRANTS, IMMIGRATION POLICIES, INCOME, INCOMES, INCREASE IN REMITTANCES, INFORMAL CHANNELS, INSTITUTIONAL CAPACITY, INTEREST RATE, INTERNATIONAL CAPITAL, INTERNATIONAL CAPITAL MARKETS, INTERNATIONAL FINANCE, INTERNATIONAL INVESTOR, INVESTOR DEMANDS, ISSUANCE, LABOR MARKET, LABOR MOBILITY, LEGAL RECOURSE, LEGAL STATUS, LIQUIDITY, LIQUIDITY CRISIS, LOCAL CURRENCIES, LOCAL CURRENCY, LOW-INCOME COUNTRIES, MACROECONOMIC LEVEL, MARKET PLAYERS, MATURITIES, MATURITY, MICRO ENTREPRENEURS, MIGRANT, MIGRANT DESTINATION COUNTRIES, MIGRANT REMITTANCE, MIGRANT REMITTANCES, MIGRANT TRANSFERS, MIGRANT WORKER, MIGRANT WORKERS, MIGRANTS, MIGRATION FLOWS, MOBILE PHONE, MOBILE PHONES, MONEY HOME, MONEY LAUNDERING, MONEY TRANSFER, MONEY TRANSFER OPERATORS, MONEY TRANSFER SERVICES, MONEY TRANSFER SYSTEM, MONEY TRANSFERS, NATIONAL BORDERS, NATIVE WORKERS, NUMBER OF MIGRANTS, OIL PRICE, OIL PRICES, PACE OF DECLINE, PACE OF INCREASE, PAYMENT SERVICES, PAYMENT SYSTEMS, PAYMENTS SERVICES, PORTFOLIO, POVERTY REDUCTION, PRICE MOVEMENTS, PRIVATE CAPITAL, PRIVATE DEBT, RATE OF GROWTH, RECESSION, REGULATORY AGENCIES, REGULATORY AUTHORITY, REGULATORY OVERSIGHT, REMITTANCE, REMITTANCE CORRIDOR, REMITTANCE CORRIDORS, REMITTANCE COSTS, REMITTANCE DATA, REMITTANCE FLOWS, REMITTANCE INFLOWS, REMITTANCE OUTFLOWS, REMITTANCE RECEIPTS, REMITTANCE SERVICE, REMITTANCE SERVICE PROVIDERS, REMITTANCE SERVICES, REMITTANCE TRANSACTIONS, REMITTANCE TRANSFERS, REMITTANCES, REMITTANCES FOR INVESTMENT, REMITTERS, RESERVE, RESERVE BANK, RETURN, RETURN MIGRATION, RETURNS, SAVINGS, SAVINGS DEPOSITS, SEND MONEY, SEND MONEY HOME, SEND REMITTANCES, SKILLED MIGRANTS, SLOWDOWN, SOVEREIGN RISK, STATE BANK, STOCKS, TAX, TEMPORARY WORKERS, TERRORIST, TRADE TRANSACTIONS, TRANSACTION, TRANSFER SERVICE, TRANSPARENCY, TREASURY, UNDOCUMENTED MIGRANTS, UNDOCUMENTED WORKERS, UNEMPLOYMENT, UNEMPLOYMENT RATE, UNEMPLOYMENT RATES, UNION, VALUATION, WORKFORCE, WORLD DEVELOPMENT INDICATORS