I would say that consumption promotes investment by definition when we're speaking about remittances being spent on domestically produced goods and services, which is the rule.
"The most remarkable thing about remittances today is their continued growth, year after year, despite the global economic crisis," says Dilip Ratha, head of migration and remittances at the World Bank.One reason for this apparent boom is simply that the data are better.
Specifically, the survey asks information about remittances received by each household member in the last 12 months.
13 This basic version, which neglects differences in purchasing powers and country preferences, already allows us to reproduce many stylized facts about remittances and return migration plans.
We gathered detailed information about household capitals (human, social, physical, natural, and financial capitals), in addition to migrants' profiles (individual characteristics, destination of migration, and types of work performed by each member) as well as information about remittances.
This paper is about remittances: the money sent by emigrants to their families "back home".
Barclays wants to close the accounts of about 100 remittance companies on the grounds that many money service businesses do not have the necessary checks in place to spot criminal activity in compliance with anti-money-laundering laws, which have been tightened since the September 11 attacks of 2001.
Grobler is wary about standard remittances for example.
The political influence of the Armenian diaspora shifted in the global recession; since about 2006, remittances from Armenians in Russia have surpassed those from the United States.
IFAD says that in 2006 Zimbabwe got $361m in cash transfers, Cuba $983m and North Korea a whopping $1.8 billion.At least more governments are thinking about using remittances to step up investment.
