International Migrants' Remittances: Impacts, Uses and Policy Choices (Hardbound-2023)

About the Book

The flow of international migrants’ remittances continues to foster economic stability of transfer-receiving countries. Its countercyclical nature and intrepid growth have immense potential to contribute to poverty reduction and the overall economic development of the receiving countries. However, in order to systematically reap the benefits from these financial flows, a deeper knowledge of their impacts and uses is needed to devise specific policy guidelines. International Migrants’ Remittances: Impacts, Uses and Policy Choices analyzes current issues of remittances in the developing world and examines the varied motives for remitting. It provides a review of literature on impacts of remittances on economic growth, poverty and inequality, government revenue, education and health, among others. The book also discusses the linkages of remittances with financial inclusion and microfinance while considering the impact of global financial crisis (GFC) and the COVID-19 pandemic on these financial flows. Through the experiences of South Asian countries such as Bangladesh, India, Nepal, Pakistan and Sri Lanka, the book analyses the various tools employed by them to reap the benefits of these transfers. Leaving no stone unturned, the author also offers policy choices for developing countries to leverage remittances’ benefits for growth and development.

About the Author

Bhubanesh Pant is a former Executive Director of Nepal Rastra Bank (Central Bank of Nepal), where he was primarily involved in the Research Department. He also served as a consultant to various research institutions and led studies on topics related to international trade and the financial sector. Pant has contributed papers to numerous national and international journals. He has a strong interest in assessing issues on international trade, remittances, foreign direct investment, financial crisis and financial inclusion. He holds a PhD in economics. Pant’s published books include: Trade and Development: Nepal’s Experiences (1994) North-South Dialogue: Issues and Options (co-author), (1995) Obstacles to Growth: Some Experiences of Least Developed Countries (1996) Financial Crises, Recovery and Reforms (2001) Financial Crises: Lessons from Experiences (2021) Trade, FDI and Remittances: Selected Writings (2021)