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When Migrant Remittances Are Not Everlasting, How Can Morocco Make Up ?

  • Fida Karam

    ()

    (CES - Centre d'économie de la Sorbonne - UP1 - Université Panthéon-Sorbonne - CNRS, EEP-PSE - Ecole d'Économie de Paris - Paris School of Economics)

In this paper, I run a computable general equilibrium (CGE) model of the Moroccan economy to investigate the transmission channels through which remittances affect households and sectors. I give a particular attention to the investment of remittances in the real estate sector, by allowing a segmentation of the savings market. To begin with, I assess the negative impact of immigration restrictive policies and permanent migration on the future evolution of remittances. Then I ask what would be the appropriate policies to take the maximum profit from current flows. It turns out that channelling investment from real estate to productive sectors is unexpectedly harmful in terms of growth and welfare. Positive effects stem only from government ability to attract investors through an improvement in the country risk premium, and private efforts to reduce international transfer costs.

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Paper provided by HAL in its series Université Paris1 Panthéon-Sorbonne (Post-Print and Working Papers) with number halshs-00344833.

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Date of creation: Nov 2008
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Handle: RePEc:hal:cesptp:halshs-00344833
Note: View the original document on HAL open archive server: https://halshs.archives-ouvertes.fr/halshs-00344833v2
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