Commenced in January 2007
Paper Count: 32578
The Global Crisis, Remittance Transfers, and Livelihoods of the Poor
Authors: Craig Loschmann
Abstract:With the global financial crisis turning into what more and more appears to be a prolonged “Great Recession", we are witnessing marked reductions in remittance transfers to developing countries with the likely possibility that overall flows will decline even further in the near future. With countless families reliant on remittance inflows as a source of income maintaining their economic livelihood, a reduction would put many at risk of falling below or deeper into poverty. Recognizing the importance of remittance inflows as a lifeline to the poor, policy should aim to (1) reduce the barriers to remit in both sending and receiving nations thus easing the decline in transfers; (2) leverage the development impacts of remittances; and (3) buffer vulnerable groups dependent on remittance transfers as a source of livelihood through sound countercyclical macroeconomic policies.
Digital Object Identifier (DOI): doi.org/10.5281/zenodo.1079486Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 1634
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