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Remittances And Development: Local Empowerment And National Dependency, Abby Foy

International Political Economy Theses

Remittances, or money that is sent by a migrant to their home country, have been increasingly viewed as a potential way to economically develop low to middle income countries. Presently, the level of remittances sent is higher than that of official developmental aid. Considering that remittances are private capital utilized by locals, the intervention of a non-profit or large international financial organization to spur developmental projects is perhaps not needed. For countries that are reliant on remittances, there are a considerable number of tradeoffs associated with this inflow of capital. Firstly, although difficult to quantify on a large scale, remittances …