This dissertation examines the determinants, motivations and effects of remittances. In that last two decades remittances have gained interest due to their large size. For several developing countries remittances constitute a large portion of their gross domestic product and sometimes exceed foreign direct investment. In the first essay, I use a unique data set from Nicaragua to asses the behavior of persons who send money back home. I estimate a heteroskedastic Tobit with a known form of variance to estimate the correlation of the remitting decisions of migrants. Working, residing in a developed country and belonging to the nuclear family positively affect remittances. The labor status and the level of education of the head of the household both affect remittances. The decision to participate in the remitting process appears to be positively related across migrants within the same receiving household. The second essay presents a simple theoretical model of migrants' remitting behavior. I consider two general motivations for remitting: altruism and self-interest. From the same data set used in the first chapter, I estimate a heteroskedastic Tobit and a sample selection equation to empirically test the findings of the theoretical model. Evidence suggests that migrants from Nicaragua remit for altruistic reasons. Moreover some gender heterogeneity exists in the remitting behavior. In the last essay, I study the impact of remittances on a small open economy using a stochastic limited participation model with cash in advance constraints and costly adjustment of cash holdings. I examine the impact of remittances on the steady state of the economy and on the dynamic response of variables to money shocks, output shocks, and shocks to remittance flows. I also examine the impact on dynamic responses to shocks of alternative specifications regarding the initial impact of a monetary injection or a remittances shock on the economy. I find that a positive remittances shock forces the exchange rate to depreciate and lowers both output and consumption in the period of the shock, irrespective of adjustment costs on money balances. Also, the positive remittance shock lowers utility during the period of the shock but improves it thereafter.

This dissertation examines the determinants, motivations and effects of remittances. In that last two decades remittances have gained interest due to their large size. For several developing countries remittances constitute a large portion of their gross domestic product and sometimes exceed foreign direct investment. In the first essay, I use a unique data set from Nicaragua to asses the behavior of persons who send money back home. I estimate a heteroskedastic Tobit with a known form of variance to estimate the correlation of the remitting decisions of migrants. Working, residing in a developed country and belonging to the nuclear family positively affect remittances. The labor status and the level of education of the head of the household both affect remittances. The decision to participate in the remitting process appears to be positively related across migrants within the same receiving household. The second essay presents a simple theoretical model of migrants' remitting behavior. I consider two general motivations for remitting: altruism and self-interest. From the same data set used in the first chapter, I estimate a heteroskedastic Tobit and a sample selection equation to empirically test the findings of the theoretical model. Evidence suggests that migrants from Nicaragua remit for altruistic reasons. Moreover some gender heterogeneity exists in the remitting behavior. In the last essay, I study the impact of remittances on a small open economy using a stochastic limited participation model with cash in advance constraints and costly adjustment of cash holdings. I examine the impact of remittances on the steady state of the economy and on the dynamic response of variables to money shocks, output shocks, and shocks to remittance flows. I also examine the impact on dynamic responses to shocks of alternative specifications regarding the initial impact of a monetary injection or a remittances shock on the economy. I find that a positive remittances shock forces the exchange rate to depreciate and lowers both output and consumption in the period of the shock, irrespective of adjustment costs on money balances. Also, the positive remittance shock lowers utility during the period of the shock but improves it thereafter.

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Thesis (Ph. D.)--Ohio State University, 2004. / Title from first page of PDF file. Document formatted into pages; contains xi, 129 p.; also includes graphics (some col.) Includes bibliographical references (p. 124-129). Available online via OhioLINK's ETD Center

Thesis (M.A. in applied economics)--Washington State University, May 2007. / Includes bibliographical references (p.35-36).

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Thesis (Ph. D.)--Georgetown University, 2000. / Includes bibliographical references (leaves 78-83).

Economic integration starts to be achieved faster through the international labor mobility than due to international trade or capital movements. Remittances, important international capital flows, became one of the most discussed topics in world. The migrant's transfers have become the primary source of existence in Moldova. This paper using data on transfer of funds for the period 1995-2010, attempts to examine the relationship between remittances and financial development, economic growth and investment level of Republic of Moldova. The main finding of this study is that remittances influence significantly the economic growth, the investment level. Moreover, these funds substitute for a shortage of development of the financial system and therefore promote growth. Keywords: Remittances, migrant, financial development, investment, economic growth, formal and informal channel. Author's e-mail: oti_marculescu@mail.ru Supervisor's e-mail: cahlik@fsv.cuni.cz

Thesis (M.S.P.D.(Prof.)) - University of Queensland, 2004. / Includes bibliography.

M.Phil. / Global capital inflows particularly foreign direct investment, official development assistance and portfolio flows, have over time, played a prominent role in strengthening developing economies. There is, however, a recent phenomenon in which migrant remittances have turned out to be the leading source of capital inflows to developing countries after foreign direct investment. Remittance flows have reacted largely to an increasing international migration, albeit more rapidly than the latter. It is observed nevertheless that in the case of South Africa, the impact of neither of the two phenomena on economic development is least understood. This formed the basis for this study. The study aims to sensitise policy officials to the positive potential impacts of remittances on economic development whilst also arguing that international migration is an exogenous phenomenon that cannot be prohibited. However, it is a source of a much needed resources, provided realistic instruments are in place to examine, monitor and ensure that remittances are used appropriately. The study is empirical and is based on the literature review on the subjects of remittances and migration. The research has consistently demonstrated that remittances improve economic development. It is within this context that South Africa should, as a matter of urgency, develop an effective policy framework to influence remittances for development.