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Macroeconomic Determinants of Remittances: Evidence from India
Author:
Mrs. Poonam Gupta
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Series:
IMF Working Papers
Volume/Issue:
Volume 2005: Issue 224
Language:
English
Publication Date:
01 Dec 2005
DOI:
https://doi.org/10.5089/9781451862430.001
ISBN:
9781451862430
ISSN:
1018-5941
Pages:
21
Keywords:
WP; remittance; dependent variable; India
Legal-disclaimer:
IMF Working Papers describe research in progress by the author(s) and are published to elicit comments and to encourage debate. The views expressed in IMF Working Papers are those of the author(s) and do not necessarily represent the views of the IMF, its Executive Board, or IMF management.
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Remittances to India have been growing rapidly since 1991, making it one of the largest recipients of remittances. This paper analyzes the determinants of remittances to India and finds that their growth over time can be explained by the increase in migration and total earnings of the migrants. Remittances are also affected by the economic environment in source countries, and appear to be countercyclical-that is, higher during periods of low economic growth in India. None of the remaining economic or political variables considered in the paper, including political uncertainty, interest rates, or exchange rate depreciation, are found to affect remittances significantly.
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Cover IMF Working Papers
IMF Working Papers
ISSN:
1018-5941
Publisher:
International Monetary Fund