Abstract
Workers’ remittances have emerged as a major source of external development finance in recent years (Ratha, 2003; The Economist, July 31, 2004). Given their magnitude and potential to reduce poverty, they have gained the attention of policymakers at the highest levels. This chapter discusses recent and current trends in remittance flows, highlights some of the advantages and disadvantages associated with these flows, and identifies some important issues confronting policy makers in leveraging the effectiveness of remittances for development in developing countries and regions of origin.
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