Publication:
Sri Lanka's Migrant Labor Remittances : Enhancing the Quality and Outreach of the Rural Remittance Infrastructure

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dc.contributor.authorLasagabaster, Esperanza
dc.contributor.authorMaimbo, Samuel Munzele
dc.contributor.authorHulugalle, Sriyani
dc.date.accessioned2012-06-20T18:03:05Z
dc.date.available2012-06-20T18:03:05Z
dc.date.issued2005-12
dc.description.abstractRemittances-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.en
dc.identifierhttp://documents.worldbank.org/curated/en/2005/12/6460259/sri-lankas-migrant-labor-remittances-enhancing-quality-outreach-rural-remittance-infrastructure
dc.identifier.urihttps://hdl.handle.net/10986/8538
dc.languageEnglish
dc.publisherWorld Bank, Washington, DC
dc.relation.ispartofseriesPolicy Research Working Paper; No. 3789
dc.rightsCC BY 3.0 IGO
dc.rights.holderWorld Bank
dc.rights.urihttp://creativecommons.org/licenses/by/3.0/igo/
dc.subjectATM
dc.subjectAUTOMATED TELLER MACHINES
dc.subjectBALANCE OF PAYMENTS
dc.subjectBANK ACCOUNTS
dc.subjectBANK BRANCHES
dc.subjectBANKING SERVICES
dc.subjectBANKING SYSTEM
dc.subjectBORROWING
dc.subjectCENTRAL BANK
dc.subjectCENTRAL BANK OF SRI LANKA
dc.subjectCHECK IMAGING
dc.subjectCHECKING ACCOUNTS
dc.subjectCLEARING HOUSE
dc.subjectCLEARINGHOUSE
dc.subjectCOMMERCIAL BANKS
dc.subjectCOMMUNITIES
dc.subjectCONSUMER PROTECTION
dc.subjectCREDIT UNIONS
dc.subjectDEPOSITS
dc.subjectDEVELOPMENT BANKS
dc.subjectDURABLE GOODS
dc.subjectE-COMMERCE
dc.subjectELECTRONICS
dc.subjectEMPLOYMENT
dc.subjectEXCHANGE RATES
dc.subjectFEDERAL RESERVE SYSTEM
dc.subjectFINANCIAL ASSETS
dc.subjectFINANCIAL AUTHORITIES
dc.subjectFINANCIAL INSTITUTIONS
dc.subjectFINANCIAL MANAGEMENT
dc.subjectFINANCIAL POLICIES
dc.subjectFINANCIAL SECTOR
dc.subjectFINANCIAL SERVICES
dc.subjectFOREIGN BANKS
dc.subjectFOREIGN EXCHANGE
dc.subjectGDP
dc.subjectGROSS DOMESTIC PRODUCT
dc.subjectHOUSING
dc.subjectHUMAN CAPITAL
dc.subjectINCOME
dc.subjectINFORMAL SECTOR
dc.subjectINFORMAL SECTORS
dc.subjectINNOVATIONS
dc.subjectINSURANCE
dc.subjectINTEREST RATES
dc.subjectINTERNATIONAL BANKS
dc.subjectLABOR MIGRATION
dc.subjectLEGISLATION
dc.subjectLIQUIDITY
dc.subjectLOW INTEREST RATE
dc.subjectMACROECONOMIC STABILITY
dc.subjectMARKET TRANSPARENCY
dc.subjectMEDIA
dc.subjectMICROFINANCE
dc.subjectMIDDLE EAST
dc.subjectMIGRANT
dc.subjectMIGRANT WORKER
dc.subjectMIGRANT WORKERS
dc.subjectMIGRANTS
dc.subjectMIGRATION
dc.subjectMIGRATION POLICIES
dc.subjectMINISTRY OF EDUCATION
dc.subjectNETWORKS
dc.subjectNONBANK FINANCIAL INSTITUTIONS
dc.subjectOUTSOURCING
dc.subjectPRIVATE BANKS
dc.subjectPRIVATE COMMERCIAL BANKS
dc.subjectPROFITABILITY
dc.subjectREMITTANCE
dc.subjectREMITTANCES
dc.subjectSAVINGS
dc.subjectSECURITIES
dc.subjectSOUTH ASIAN
dc.subjectSPECIALIZED BANKS
dc.subjectSTATE BANKS
dc.subjectSUBSIDIARY
dc.subjectTRANSACTION COSTS
dc.subjectTRANSPARENCY
dc.subjectUNSKILLED WORKERS
dc.titleSri Lanka's Migrant Labor Remittances : Enhancing the Quality and Outreach of the Rural Remittance Infrastructureen
dspace.entity.typePublication
okr.crosscuttingsolutionareaJobs
okr.crosscuttingsolutionareaGender
okr.doctypePublications & Research::Policy Research Working Paper
okr.doctypePublications & Research
okr.docurlhttp://documents.worldbank.org/curated/en/2005/12/6460259/sri-lankas-migrant-labor-remittances-enhancing-quality-outreach-rural-remittance-infrastructure
okr.globalpracticeMacroeconomics and Fiscal Management
okr.globalpracticeFinance and Markets
okr.globalpracticeTrade and Competitiveness
okr.guid393361468335409916
okr.identifier.doi10.1596/1813-9450-3789
okr.identifier.externaldocumentum000016406_20051207105243
okr.identifier.internaldocumentum6460259
okr.identifier.reportWPS3789
okr.language.supporteden
okr.pdfurlhttp://www-wds.worldbank.org/external/default/WDSContentServer/WDSP/IB/2005/12/07/000016406_20051207105243/Rendered/PDF/wps3789.pdfen
okr.region.administrativeSouth Asia
okr.region.countrySri Lanka
okr.topicTechnology Industry
okr.topicEconomic Theory and Research
okr.topicBanks and Banking Reform
okr.topicFinance and Financial Sector Development::Financial Intermediation
okr.topicGender::Gender and Development
okr.topicIndustry
okr.topicMacroeconomics and Economic Growth
okr.unitDevelopment Research Group (DECRG)
okr.volume1 of 1
relation.isAuthorOfPublicationb5dea247-69d4-53cc-87d6-482abd725596
relation.isAuthorOfPublication.latestForDiscoveryb5dea247-69d4-53cc-87d6-482abd725596
relation.isSeriesOfPublication26e071dc-b0bf-409c-b982-df2970295c87
relation.isSeriesOfPublication.latestForDiscovery26e071dc-b0bf-409c-b982-df2970295c87
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