Migration and Remittances in Latin America and the Caribbean [electronic resource] / Kimberly Beaton.
Material type: TextSeries: IMF Working Papers; Working Paper ; No. 17/144Publication details: Washington, D.C. : International Monetary Fund, 2017Description: 1 online resource (81 p.)ISBN: 1484303644 :Subject(s): Economic Growth | Economic Stabilization | Emigration And Immigration | International Migration | Remittances | Antigua And Barbuda | Bahamas, The | Barbados | Belize | Caribbean | Costa Rica | Dominica | Dominican Republic | El Salvador | Grenada | Guatemala | Haiti | Honduras | Jamaica | Latin America | Nicaragua | Panama | Saint Kitts And Nevis | Saint Lucia | Saint Vincent And The Grenadines | Trinidad And TobagoAdditional physical formats: Print Version:: Migration and Remittances in Latin America and the CaribbeanOnline resources: IMF e-Library | IMF Book Store Abstract: Outward migration has been an important phenomenon for countries in Latin American and the Caribbean (LAC), particularly those in Central America and the Caribbean. This paper examines recent trends in outward migration from and remittances to LAC, as well as their costs and benefits. For the home country, the negative impact from emigration on labor resources and productivity seems to outweigh growth gains from remittances, notably for the Caribbean. However, given emigration, remittance flows play key financing and stabilizing roles in Central America and the Caribbean. They facilitate private consumption smoothing, support financial sector stability and fiscal revenues, and help reduce poverty and inequality, without strong evidence for harmful competitiveness effects through shifts in the real exchange rate.Outward migration has been an important phenomenon for countries in Latin American and the Caribbean (LAC), particularly those in Central America and the Caribbean. This paper examines recent trends in outward migration from and remittances to LAC, as well as their costs and benefits. For the home country, the negative impact from emigration on labor resources and productivity seems to outweigh growth gains from remittances, notably for the Caribbean. However, given emigration, remittance flows play key financing and stabilizing roles in Central America and the Caribbean. They facilitate private consumption smoothing, support financial sector stability and fiscal revenues, and help reduce poverty and inequality, without strong evidence for harmful competitiveness effects through shifts in the real exchange rate.
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