Mohapatra, SanketRatha, DilipXu, Zhimei2012-08-132012-08-132008-11https://hdl.handle.net/10986/11008The outlook for remittances for the rest of 2008 and 2009-10 remains as uncertain as the outlook for global growth, oil and non-oil commodity prices, and currency exchange rates. In the past, remittances have been noted to be stable or even counter-cyclical, during an economic downturn in the recipient economy, and resilient in the face of a slowdown in the source country. This time, however, the crisis has affected all countries, creating additional uncertainties.CC BY 3.0 IGOACCOUNTINGAVERAGE VALUE OF REMITTANCESBALANCE OF PAYMENTSBALANCE OF PAYMENTS STATISTICSBANKING SECTORBENEFICIARYBUSINESS CYCLECAPITAL FLOWSCENTRAL BANKSCOMMODITIESCOMMODITYCOMMODITY PRICESCOMPENSATION OF EMPLOYEESCONSTANT EXCHANGE RATECONTRIBUTION OF REMITTANCESCURRENCY EXCHANGECURRENCY VALUECURRENT ACCOUNTCURRENT ACCOUNT BALANCEDATA ON REMITTANCESDECELERATION IN GROWTHDEPRECIATIONDESTINATION COUNTRYDEVELOPING COUNTRIESDEVELOPMENT ASSISTANCEDOLLAR EXCHANGE RATEDOMESTIC INFLATIONECONOMIC CRISISECONOMIC DOWNTURNECONOMIC DOWNTURNSECONOMIC PERFORMANCEECONOMIC SLOWDOWNEMPLOYERSENFORCEMENTSEXCHANGE RATEEXCHANGE RATESEXPENDITUREEXTERNAL POSITIONFAMILIESFINANCIAL CRISISFINANCIAL OBLIGATIONSFOREIGN EXCHANGEFOREIGN EXCHANGE EARNINGSFOREIGN INVESTMENTFOREIGN INVESTMENT FLOWSGLOBAL ECONOMIC PROSPECTSGLOBAL LIQUIDITYGROSS DOMESTIC PRODUCTGROWTH OF REMITTANCESGROWTH RATEHOST COUNTRIESHOST COUNTRYHOUSEHOLD INCOMEINCOMEINCOME DIFFERENTIALINCOME SHOCKSINCOMESINFLATIONINFORMAL CHANNELSINFRASTRUCTURE PROJECTSINSURANCEINTERNATIONAL MIGRANTSINVESTMENT PURPOSESLABOR MARKETLIQUIDITYLOCAL CURRENCIESLOCAL CURRENCYMARKET DEMANDSMIGRANT TRANSFERSMIGRANT WORKERSMONEY HOMEMONEY TRANSFERMONEY TRANSFER COMPANYOIL PRICEOIL PRICESPRIVATE CAPITALPRIVATE CAPITAL FLOWSPUBLIC EXPENDITUREPURCHASING POWERRATE OF GROWTHRECESSIONRECIPIENT COUNTRIESRECIPIENT HOUSEHOLDSRECIPIENTS OF REMITTANCESREMITTANCEREMITTANCE COSTSREMITTANCE DATAREMITTANCE FLOWSREMITTANCE INDUSTRYREMITTANCE INFLOWSREMITTANCE OUTFLOWSREMITTANCE RECEIVINGREMITTANCESREMITTANCES FOR INVESTMENTREMITTANCES REMITTANCESRESERVESRETURNRETURN MIGRATIONSAVINGSSEND REMITTANCESSLOWDOWNSOCIAL SECURITYSTOCKSTRANSACTIONUNCERTAINTIESUNCERTAINTYUNEMPLOYMENTUNEMPLOYMENT INSURANCEUNIONWorld Bank10.1596/11008