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When migrant remittances are not everlasting, how can Morocco make up ?

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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File URL: ftp://mse.univ-paris1.fr/pub/mse/CES2008/Bla08081.pdf
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Paper provided by Université Panthéon-Sorbonne (Paris 1), Centre d'Economie de la Sorbonne in its series Documents de travail du Centre d'Economie de la Sorbonne with number bla08081.

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Length: 60 pages
Date of creation: Nov 2008
Date of revision:
Handle: RePEc:mse:cesdoc:bla08081
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  1. Valero-Gil, Jorge, 2008. "Remittances and the household’s expenditures on health," MPRA Paper 9572, University Library of Munich, Germany.
  2. Maurice Schiff, 2008. "On the underestimation of migration’s income and poverty impact," Review of Economics of the Household, Springer, vol. 6(3), pages 267-284, September.
  3. Rodrigo, G. Chris & Thorbecke, Erik, 1997. "Sources of growth: A reconsideration and general equilibrium application to Indonesia," World Development, Elsevier, vol. 25(10), pages 1609-1625, October.
  4. repec:dau:papers:123456789/10658 is not listed on IDEAS
  5. Chan, Nguyen & Dung, Tran Kim & Ghosh, Madanmohan & Whalley, John, 2005. "Adjustment costs in labour markets and the distributional effects of trade liberalization: Analytics and calculations for Vietnam," Journal of Policy Modeling, Elsevier, vol. 27(9), pages 1009-1024, December.
  6. Rodriguez, Edgard R, 1998. "International Migration and Income Distribution in the Philippines," Economic Development and Cultural Change, University of Chicago Press, vol. 46(2), pages 329-50, January.
  7. Taylor, J. Edward & Dyer, George, 2006. "Migration and the Sending Economy: A Disaggregated Rural Economy Wide Analysis," Working Papers 190913, University of California, Davis, Department of Agricultural and Resource Economics.
  8. Fida Karam, 2008. "When migrant remittances are not everlasting, how can Morocco make up ?," Documents de travail du Centre d'Economie de la Sorbonne bla08081, Université Panthéon-Sorbonne (Paris 1), Centre d'Economie de la Sorbonne.
  9. Rutherford, Thomas F. & Rutstrom, E. Elisabet & Tarr, David, 1997. "Morocco's free trade agreement with the EU: A quantitative assessment," Economic Modelling, Elsevier, vol. 14(2), pages 237-269, April.
  10. Dean Yang, 2006. "International Migration, Remittances, and Household Investment: Evidence from Philippine Migrants' Exchange Rate Shocks," NBER Working Papers 12325, National Bureau of Economic Research, Inc.
  11. repec:hal:wpaper:hal-00304885 is not listed on IDEAS
  12. Brown, Richard P.C. & Jimenez, Eliana, 2007. "Estimating the Net Effects of Migration and Remittances on Poverty and Inequality: Comparison of Fiji and Tonga," Working Paper Series UNU-WIDER Research Paper , World Institute for Development Economic Research (UNU-WIDER).
  13. Jean-Pierre Cling & Mohamed Ali Marouani & Mireille Razafindrakoto & Anne-Sophie Robilliard & Francois Roubaud, 2009. "The Distributive Impact of Vietnam's Accession to the WTO," Economie Internationale, CEPII research center, issue 118, pages 43-71.
  14. David G. Blanchflower & Andrew J. Oswald, 1995. "An Introduction to the Wage Curve," Journal of Economic Perspectives, American Economic Association, vol. 9(3), pages 153-167, Summer.
  15. Marouani, Mohamed A. & Robalino, David A., 2008. "Assessing interactions among education, social insurance, and labor market policies in a general equilibrium framework: an application to Morocco," Policy Research Working Paper Series 4681, The World Bank.
  16. repec:hal:journl:halshs-00344833 is not listed on IDEAS
  17. Richter, Susan M., 2008. "The Insurance Role of Remittances on Household Credit Demand," 2008 Annual Meeting, July 27-29, 2008, Orlando, Florida 6261, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).
  18. François Bourguignon & William H. Branson & Jaime de Melo, 1989. "Macroeconomic Adjustment and Income Distribution: A Macro-Micro Simulation Model," OECD Development Centre Working Papers 1, OECD Publishing.
  19. Samuel Munzele Maimbo & Dilip Ratha, 2005. "Remittances: Development Impact and Future Prospects," World Bank Publications, The World Bank, number 7339, October.
  20. repec:dau:papers:123456789/4321 is not listed on IDEAS
  21. Agenor, Pierre-Richard & Aynaoui, Karim El, 2003. "Labor market policies and unemployment in Morocco : a quantitative analysis," Policy Research Working Paper Series 3091, The World Bank.
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