What Is the Impact of International Remittances On Poverty and Inequality in Latin America ? [electronic resource] / Lopez, Humberto
Material type: TextPublication details: Washington, D.C., The World Bank, 2007Description: 1 online resource (36 p.)Subject(s): Debt Markets | Developing countries | Finance and Financial Sector Development | Health, Nutrition and Population | Inequality | Macroeconomics and Economic Growth | Migrants | Official development assistance | Policy Research | Policy Research Working Paper | Population Policies | Poverty Reduction | Practitioners | Progress | Rates of growth | Remittance | Remittances | Rural Development | Rural Poverty ReductionAdditional physical formats: Lopez, Humberto.: What Is the Impact of International Remittances On Poverty and Inequality in Latin America ?Online resources: Click here to access online Abstract: Workers' remittances have become a major source of income for developing countries. However, little is still known about their impact on poverty and inequality. Using a large cross-country panel dataset, the authors find that remittances in Latin American and Caribbean (LAC) countries have increased growth and reduced inequality and poverty. These results are robust to the use of different instruments that attempt to correct for the potential endogeneity of remittances. Household survey-based estimates for 10 LAC countries confirm that remittances have negative albeit relatively small inequality and poverty-reducing effects, even after imputations for the potential home earnings of migrants.Workers' remittances have become a major source of income for developing countries. However, little is still known about their impact on poverty and inequality. Using a large cross-country panel dataset, the authors find that remittances in Latin American and Caribbean (LAC) countries have increased growth and reduced inequality and poverty. These results are robust to the use of different instruments that attempt to correct for the potential endogeneity of remittances. Household survey-based estimates for 10 LAC countries confirm that remittances have negative albeit relatively small inequality and poverty-reducing effects, even after imputations for the potential home earnings of migrants.
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