Remittances and the Real Exchange Rate

Lopez, Humberto ; Molina, Luis ; Bussolo, Maurizio

World Bank, Washington, DC

关键词: ABSOLUTE VALUE;    ADJUSTMENT PROCESS;    ADVERSE EFFECTS;    BANK;    BASE YEAR;   

DOI  :  10.1596/1813-9450-4213
RP-ID  :  WPS4213

学科分类：社会科学、人文和艺术（综合）

来源: World Bank Open Knowledge Repository

【 摘 要 】

Existing empirical evidence indicatesthat remittances have a positive impact on a good number ofdevelopment indicators of recipient countries. Yet whenflows are too large relative to the size of the recipienteconomies, as those observed in a number of Latin Americancountries, they may also bring a number of undesiredproblems. Among those probably the most feared in thiscontext is the Dutch Disease. This paper explores theempirical evidence regarding the impact of remittances onthe real exchange rate. The findings suggest thatremittances indeed appear to lead to a significant realexchange rate appreciation. The paper also explores policyoptions that may somewhat offset the observed effect.