Remittances, financial market development, and economic growth: The case of Latin America and the Caribbean

Review of Development Economics

Volumn 13, Issue 2, 2009, Pages 288-303

  Mundaca, B Gabriela ^a  

^a UNIVERSITY OF OSLO   (Norway)

Author keywords

[No Author keywords available]

Indexed keywords

ECONOMIC GROWTH; EMPIRICAL ANALYSIS; FINANCIAL MARKET; FINANCIAL SERVICES; PANEL DATA; REMITTANCE;

ATLANTIC ISLANDS; ATLANTIC OCEAN; CARIBBEAN ISLANDS;

EID: 65449171164     PISSN: 13636669     EISSN: 14679361     Source Type: Journal    
DOI: 10.1111/j.1467-9361.2008.00487.x     Document Type: Article

References (46)

1. Adams, R.H. Jr., "Workers Remittances and Inequality in Rural Egypt," Economic Development and Cultural Change 38 (1989): 45-71.
2. Adams, R.H. Jr., "Remittances, Household Expenditure and Investment in Guatemala," Washington, DC: World Bank Policy Research working paper 3532 (2005).
3. Adelman, I. and J.E. Taylor, "Is Structural Adjustment with a Human Face Possible? The Case of Mexico," Journal of Development Studies 26 (1990):387-407.
4. Aghion, P., G.-M. Angelatos, A. Banerjee, and K. Manova, "Volatility and Growth: Credit Constraints and Productivity-enhancing Investment," NBER working paper 11349 (2005).
5. Arellano, M. and S. Bond, "Some Tests of Specification for Panel Data: Monte Carlo Evidence and an Application to Employment Equations," Review of Economic Studies 58 (1991): 277-97.
6. Barham, B. and S. Boucher, "Migration, Remittances and Inequality: Estimating the Net Effects of Migration on Income Distribution," Journal of Development Economics 55 (1998): 307-31.
7. Beck, T., R. Levine, and N. Loyaza, "Financial Intermediation and Growth: Causality and Causes," Journal of Monetary Economics 46 (2000a): 31-77.
8. Beck, T., A. Demirguç-Kunt, and R. Levine, "A New Database on Financial Development and Structure," World Bank Economic Review 14 (2000b): 597-605.
9. Bencivenga, V. and B. Smith, "Financial Intermediation and Endogenous Growth," Review of Economic Studies 58 (1991): 195-209.
10. Bencivenga, V., B. Smith and R. Starr, "Transaction Costs, Technological Choice, and Endogenous Growth," Journal of Economic Theory 67 (1995): 153-77.
11. Chami, R., C. Fullenkamp, and S. Jahjah, "Are Immigrant Remittance Flows a Source of Capital for Development?" Washington, DC: International Monetary Fund, working paper 189 (2003).
12. Cox, D., Z. Eser, and E. Jimenez, "Motives for Private Transfers over the Life Cycle: An Analytical Framework and Evidence for Peru," Journal of Development Economics 55 (1998):57-80.
13. Cox Edwards, A. and M. Ureta, "International Migration, Remittances and Schooling: Evidence from El Salvador," Journal of Development Economics 72 (2003): 429-61.
14. Demirgüç-Kunt, A. and V. Maksimovic, "Law, Finance, and Firm Growth," Journal of Finance 53 (1998):2107-37.
15. Diamond, D. and P. Dybvig, "Bank Runs, Deposit Insurance and Liquidity," Journal of Political Economy 91 (1983): 401-19.
16. Djajic, S., "International Migration, Remittances and Welfare in a Dependent Economy," Journal of Development Economics 21 (1986):229-34.
17. Docquier, F. and H. Rapoport, "Remittances and Inequality: A Dynamic Migration Model," Bonn, Germany: IZA discussion paper 808 (2003).
18. Durand, J., W. Kandel, E.A. Parrado, and D.S. Massey, "International Migration and Development in Mexican Communities," Demography 33 (1996):249-64.
19. Feinerman, E. and E.J. Seiler, "Private Transfers with Incomplete Information: A Contribution to the 'Altruism-exchange Motivation for Transfers' Debate," Journal of Population Economics 15 (2002): 715-36.
20. Foster, A.D. and M.R. Rosenzweig, "Imperfect Commitment, Altruism, and the Family: Evidence from Transfer Behavior in Low-income Rural Areas," Review of Economics and Statistics 83 (2001):389-407.
21. Funkhouser, E., "Remittances from International Migration: A Comparison of El Salvador and Nicaragua," Review of Economic and Statistics 77 (1995):137-46.
22. Glytsos, N.P., "Measuring the Income Effects of Migrant Remittances: A Methodological Approach Applied to Greece," Economic Development and Cultural Change 42 (1993):131-68.
23. Goldsmith, R.W., Financial Structure and Development, New Haven: Yale University Press (1969).
24. Greenwood, J. and B. Jovanovic, "Financial Development, Growth, and the Distribution of Income," Journal of Political Economy 98 (1990):1076-107.
25. Hicks, J., A Theory of Economic History, Oxford: Clarendon Press (1969).
26. Inter-American Development Bank/Multilateral Investment Fund (IDB), "Remittances 2005. Promoting Financial Democracy," Washington, DC (2006).
27. Levine, R., "Finance and Growth: Theory, Evidence, and Mechanisms," in P. Aghion and S. Durlauf (eds), Handbook of Economic Growth, Amsterdam: North-Holland Elsevier Publishers (2006).
28. Lopez Cordova, E., "Globalization, Migration and Development: The Role of Mexican Migrant Remittances," MS, Washington, DC: Inter-American Development Bank (2004).
29. Lucas, R.E.B., "Emigration to South Africa's Mines," American Economic Review 77(1987): 313-30.
30. Lucas, R.E.B., "On the Mechanisms of Economic Development," Journal of Monetary Economics 22 (1988): 3-42.
31. Lucas, R.E.B. and O. Stark, "Motivations to Remit: Evidence from Botswana," Journal of Political Economy 93 (1985):901-18.
32. McCormick, B. and J. Wahba, "Overseas Employment and Remittances to a Dual Economy," The Economic Journal 110(2000): 509-34.
33. McKinnon, R., Money and Capital In Economic Development, Washington, DC: Brookings Institution (1973).
34. Milanovic, B., "Remittances and Income Distribution," Journal of Economic Studies 14 (1987):24-37.
35. Oberai, A.S. and H.K. Manmohan Singh, "Migration, Remittances and Rural Development: Finding of a Case Study in the Indian Punjab," International Labour Review 119 (1980):229-41.
36. Prescott, E. and J. Boyd, "Dynamic Coalitions, Growth, and the Firm," in E. Prescott and N. Wallace (eds), Contractual Arrangements for Intertemporal Trade, Minneapolis, MN: University of Minnesota Press (1987).
37. Rajan, R., and L. Zingales, "Financial Development and Growth," American Economic Review 88 (1998):559-86.
38. Romer, P.M., "Increasing Returns and Long Run Growth," Journal of Political Economy 94 (1986):1002-37.
39. Rozelle, S., J.E. Taylor, and A. deBrauw, "Migration, Remittances, and Agriculture Productivity in China," American Economic Review 89 (1999):287-91.
40. Stahl, C.W. and A. Habib, "The Impact of Overseas Workers' Remittances on Indigenous Industries: Evidence from Bangladesh," The Developing Economies 27 (1989):269-85.
41. Stark, O., J.E. Taylor, and S. Yitzhaki, "Remittances and Inequality," Economic Journal 28 (1986a):309-22.
42. Stark, O., J.E. Taylor, and S. Yitzhaki, "Migration, Remittances and Inequality: A Sensitivity Analysis Using the Extended Gini Index," Journal of Development Economics 28 (1986b):309-22.
43. Taylor, J.E., "Remittances and Inequality Reconsidered: Direct, Indirect and Intertemporal Effects," Journal of Policy Modeling 14 (1992):187-208.
44. Taylor, J.E. and T.J. Wyatt, "The Shadow Value of Migrant Remittances, Income and Inequality in a Household-farm Economy," Journal of Development Economics 32 (1996):899-912.
45. Woodruff, C. and R. Zenteno, "Migration Networks and Microenterprises in Mexico," Journal of Development Economics 82 (2007):509-28.
46. World Bank, "World Development Indicators," Washington, DC: The World Bank (2004).