Remittances Development Impact and Future Prospects

Editors
Samuel Munzele Maimbo
and
Dilip Ratha

Table of Contents
Foreword ix
Acknowledgments xi
Contributors xiii
Remittances: An Overview 1
Samuel Munzele Maimbo and Dilip Ratha
Part I Remittance Trends and Determinants 17
Chapter 1 Workers’ Remittances: An Impotant and Stable
Source of External Development Finance 19
Dilip Ratha
Chapter 2 Migrant Remittances in Africa:
A Regional Perspective 53
Cerstin Sander and Samuel Munzele Maimbo
Part II Maximizing the Development Impact
of Remittances 81
Chapter 3 The Socioeconomic Impact of Remittances
on Poverty Reduction 83
Admos O. Chimhowu, Jenifer Piesse, and Caroline Pinder
Chapter 4 Remittances and Economic Development
in India and Pakistan 103
Roger Ballard
Chapter 5 Migrant Workers’ Remittances: A Source of Finance
for Micro-Enterprise Development in Bangladesh? 119
Abul Kalam Azad
Chapter 6 Migration and Development:
The Philippine Experience 133
I. F. Bagasao
Chapter 7 Remittances from Canada to Central America
and the Caribbean 143
Barnabé Ndarishikanye
Part III Strengthening the Formal Financial
Infrastructure for Remittances 157
Chapter 8 Exploring the Credit Union Experience with
Remittances in the Latin American Market 159
David C. Grace
Chapter 9 Remittances and Pyramid Investment Schemes
in Albania 175
James P. Korovilas
Chapter 10 International Remittances: Delivering Fair Value 193
Norbert Bielefeld and Antonique Koning
Part IV Increasing Transparency in the Informal
Financial Infrastructure for Remittances 209
Chapter 11 The Regulation and Supervision of
Informal Funds Transfer Systems 211
Samuel Munzele Maimbo and Nikos Passas
Chapter 12 Regulation and Supervision in a Vacuum:
The Story of the Somali Remittance Sector 227
Abdusalam Omer and Gina El Koury
Chapter 13 A Proposed Framework to Analyze Informal
Funds Transfer Systems 243
Raul Hernandez-Coss
Part V Migration, Development, and Remittances 275
Chapter 14 The Impact of International Migration
and Remittances on Poverty 277
Richard H. Adams Jr. and John Page
Chapter 15 Transnationalism and Development:
Trends and Opportunities in Latin America 307
Manuel Orozco
Chapter 16 Remittances: The New Development Mantra? 331
Devesh Kapur
Index 361



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