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Determinants of Emigrant Deposits in Cape Verde
Author:
International Monetary Fund
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Series:
IMF Working Papers
Volume/Issue:
Volume 2006: Issue 132
Language:
English
Publication Date:
01 May 2006
DOI:
https://doi.org/10.5089/9781451863925.001
ISBN:
9781451863925
ISSN:
1018-5941
Pages:
28
Keywords:
WP; emigrant deposit; deposit; ED flow; emigrant deposits indicator
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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In the last decade Cape Verde has experienced a strong accumulation of emigrant deposits. These deposits have provided much needed foreign exchange to the country, adding support to the exchange rate peg. This paper studies the long-run determinants of emigrant deposits with respect to risk, wealth, and return variables, isolating speculative and altruistic motives underlying the accumulation of flows. The study suggests that the temporary character of recent emigration is responsible for the rise in the share of flows driven by altruism. Finally, the paper discusses policy implications in light of the empirical findings and the recent literature on this topic.
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Cover IMF Working Papers
IMF Working Papers
ISSN:
1018-5941
Publisher:
International Monetary Fund