Macroeconomic Determinants of Remittances Evidence from India

Remittances to India have been growing rapidly since 1991, making it one of the largest recipients of remittances. This paper analyzes the determinants of remittances to India and finds that their growth over time can be explained by the increase in migration and total earnings of the migrants. Remi...

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Main Author: Gupta, Poonam
Format: eBook
Language:English
Published: Washington, D.C. International Monetary Fund 2005, 2005
Series:IMF Working Papers; Working Paper
Subjects:
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Collection: International Monetary Fund - Collection details see MPG.ReNa
Summary:Remittances to India have been growing rapidly since 1991, making it one of the largest recipients of remittances. This paper analyzes the determinants of remittances to India and finds that their growth over time can be explained by the increase in migration and total earnings of the migrants. Remittances are also affected by the economic environment in source countries, and appear to be countercyclical-that is, higher during periods of low economic growth in India. None of the remaining economic or political variables considered in the paper, including political uncertainty, interest rates, or exchange rate depreciation, are found to affect remittances significantly
Physical Description:21 p.
ISBN:1451862431
9781451862430