Remittance flows transmit global shocks, says IMF paper
A working paper published by the International Monetary Fund on October 19 says remittance flows play an important role in propagating global shocks to the countries receiving them.
The authors, Adolfo Barajas, Ralph Chami, Christian Ebeke and Sampawende Tapsoba, note for a large fraction of the poorest nations, remittances – wages and salaries earned by non-resident workers – surpass both official development assistance and foreign direct investment.
The strength of this remittance channel, the
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