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Determinants of Remittances

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  • International Monetary Fund
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    Abstract

    This paper analyzes the determinants of remittances to Tonga. The results indicate that macroeconomic conditions in remitting countries and exchange rate fluctuations influence remittances. In particular, remittances growth falls when the Tongan currency appreciates, but increases with higher real GDP growth and lower unemployment in remitting countries. The analysis also finds that the influence of these determinants varies with the recipients of remittances, with remittances to non-profit organizations being more sensitive to an appreciation of the Tongan currency and the interest rate differential between Tonga and remitting countries than remittances to households. However, the analysis does not find evidence of "ÂDutch Disease" in Tonga, as the real exchange rate does not appear to be affected by remittances.

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    Bibliographic Info

    Paper provided by International Monetary Fund in its series IMF Working Papers with number 11/18.

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    Length: 17
    Date of creation: 01 Jan 2011
    Date of revision:
    Handle: RePEc:imf:imfwpa:11/18

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    Related research

    Keywords: Capital flows; Real effective exchange rates; Workers remittances; remittances; exchange rate; real effective exchange rate; effective exchange rate; remittance; real exchange rate; determinants of remittances; remittance flows; growth of remittances; remittance inflows; exchange rates; bilateral real exchange rate; impact of remittances; workers ? remittances; exchange rate fluctuations; foreign exchange; migration; bilateral exchange rate; increase in remittances; determinants of remittance; recipients of remittances; use of remittances; remittances inflows; bilateral exchange rates; migrant; effect of remittances; increase in remittance; impact of remittance; exchange rate changes; remittances data; effects of remittances; recipient of remittances; exchange rate misalignment;

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    1. Yves Bourdet & Hans Falck, 2006. "Emigrants' remittances and Dutch Disease in Cape Verde," International Economic Journal, Taylor & Francis Journals, vol. 20(3), pages 267-284.
    2. Marta Ruiz-Arranz & Paola Giuliano, 2005. "Remittances, Financial Development, and Growth," IMF Working Papers 05/234, International Monetary Fund.
    3. Raghuram G. Rajan & Arvind Subramanian, 2005. "What Undermines Aid's Impact on Growth?," NBER Working Papers 11657, National Bureau of Economic Research, Inc.
    4. repec:wii:bpaper:bowp:068 is not listed on IDEAS
    5. Martin Petri & Tahsin Saadi-Sedik, 2006. "To Smooth or Not to Smooth," IMF Working Papers 06/257, International Monetary Fund.
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