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Determinants of Remittances; Evidence From tonga

  • International Monetary Fund
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    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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    File URL: http://www.imf.org/external/pubs/cat/longres.aspx?sk=24596
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    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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    1. Marta Ruiz-Arranz & Paola Giuliano, 2005. "Remittances, Financial Development, and Growth," IMF Working Papers 05/234, International Monetary Fund.
    2. Arvind Subramanian & Raghuram Rajan, 2005. "What Undermines Aid's Impacton Growth?," IMF Working Papers 05/126, International Monetary Fund.
    3. 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.
    4. Martin Petri & Tahsin Saadi-Sedik, 2006. "To Smooth or Not to Smooth; The Impact of Grants and Remittanceson the Equilibrium Real Exchange Rate in Jordan," IMF Working Papers 06/257, International Monetary Fund.
    5. Mario Holzner, 2006. "Real Exchange Rate Distortion in Southeast Europe," wiiw Balkan Observatory Working Papers 68, The Vienna Institute for International Economic Studies, wiiw.
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