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Remittances and their Impact on the Czech Economy

Author

Listed:
  • Martina Šimková
  • Jitka Langhamrová

Abstract

Migration of population has been a significant feature of the international economy for a long time. It is an important source of income, foreign exchange and workforce for a large number of economies. The most studies dealing with the international migration consider it as efficient instrument for developing countries, because inflow of money (through remittances) has a positive impact on their economy. However, on the other hand, economically developed countries are threatened by outflow of money abroad. From this perspective, remittances may have negative consequences on the economy. This issue connected with remittances is very often neglected. The Czech Republic and most developed European countries are the immigration countries. It means that many foreigners come here because of work or study, especially from nonEU countries. The paper focuses on rarely discussed issues of migration standing on the border between demographics and economic statistics. It deals with positive and negative aspects of labour immigration with the specific focus on foreigners' behaviour - incomes, expenditures, savings and remittances. It is aimed to determine specific impact of migration and remittances on the economy of the Czech Republic.

Suggested Citation

  • Martina Šimková & Jitka Langhamrová, 2015. "Remittances and their Impact on the Czech Economy," Prague Economic Papers, Prague University of Economics and Business, vol. 2015(5), pages 562-580.
    • Handle: RePEc:prg:jnlpep:v:2015:y:2015:i:5:id:548:p:562-580
    DOI: 10.18267/j.pep.548
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    References listed on IDEAS

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    1. Muysken, J. & Corvers, F. & Ziesemer, T.H.W., 2008. "Immigration can alleviate the ageing problem," Research Memorandum 004, Maastricht University, Maastricht Research School of Economics of Technology and Organization (METEOR).
    2. Kuckulenz, Anja & Buch, Claudia M., 2004. "Worker Remittances and Capital Flows to Developing Countries," ZEW Discussion Papers 04-31, ZEW - Leibniz Centre for European Economic Research.
    3. Wadim Strielkowski & Blanka Weyskrabova, 2014. "Ukrainian Labour Migration and Remittances in the Czech Republic," Tijdschrift voor Economische en Sociale Geografie, Royal Dutch Geographical Society KNAG, vol. 105(1), pages 30-45, February.
    4. Robert E.B. Lucas, 2005. "International Migration and Economic Development," Books, Edward Elgar Publishing, number 3826.
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    More about this item

    Keywords

    remittances; migration; labour market; foreigners;
    All these keywords.

    JEL classification:

    • F22 - International Economics - - International Factor Movements and International Business - - - International Migration
    • F24 - International Economics - - International Factor Movements and International Business - - - Remittances
    • J61 - Labor and Demographic Economics - - Mobility, Unemployment, Vacancies, and Immigrant Workers - - - Geographic Labor Mobility; Immigrant Workers

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