Migration and Development Briefs are prepared by the Migration and Remittances Unit, Development Economics (DEC). The brief aims to provide an update on key developments in the area of migration and remittance flows and related policies over the past six months. It also provides medium-term projections of remittance flows to developing countries. A special topic is included in each brief. The brief is produced twice a year.
(World Bank, Washington, DC, 2008-07) Ratha, Dilip; Vijayalakshmi, K. M.; Xu, Zhimei
Revised estimates show that remittance
flows to developing countries were $251 billion in 2007, up
11 percent from 2006. This Brief discusses the slowdown in
remittance flows to Mexico in the first part of 2008.
Remittances to countries in Latin America and the Caribbean
(El Salvador, Honduras, Guatemala), and Asia (Bangladesh,
Pakistan, and the Philippines) continue to grow robustly.
(World Bank, Washington, DC, 2007-11) Ratha, Dilip; Vijayalakshmi, K. M.; Xu, Zhimei
This note describes broad regional and
country specific trends in remittance flows worldwide, and
highlights some structural changes that will affect
remittance flows in the future. The main messages are:
remittance flows to Latin America and the Caribbean slowed
on the back of a weakening U.S. economy and tighter
enforcement of immigration laws. Nevertheless, the growth of
remittances to developing countries remains robust because
of strong growth in Europe and Asia. The remittance industry
is experiencing some positive structural changes with the
advent of cell phone and internet-based remittance
instruments. These changes may have profound effects on
remittance flows to previously underserved areas. The
diffusion of these structural changes, however, is slowed by
a lack of clarity on key regulations (including those
relating to money laundering and other financial crimes).
Remittance costs have fallen, but not far enough, especially
in the South-South corridors.