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Essays on the macroeconomic consequences of remittances in developing countries

Abstract : This thesis focused on the consequences of remittance inflows in developing countries. The first part explored the causal impacts of remittances on some indicators of aggregate welfare while the second part examined the effects of remittances on public policy. Several results emerged. First, remittance inflows help reduce the proportion of individuals selling low wages and this effect is stronger in a context of low level of financial development, high macroeconomic instability and less unpredictable remittances (Chapter 1). Second, remittances have a robust stabilizing impact on the private consumption. However, this effect tends to decrease with the levels of remittance inflows and financial development. Moreover, remittance-dependent economies seem to be strongly sheltered against the damaging effects of various types of shocks affecting consumption (Chapter 2). In Chapter 3, the results highlighted that remittance inflows dampen the positive effect of natural disasters on the output growth volatility. However, this impact was strongly reduced as the level of remittances increased. The second part of the thesis revealed interesting results regarding the effects of remittance inflows on public policy. First, remittance inflows reduce the insurance role played by the government consumption in more open economies and this effect is more likely to hold when remittances exhibit a countercyclical behavior (Chapter 4). In Chapter 5, the results showed that the fiscal retrenchment induced by remittance inflows, is particularly marked for the public education and health spending in countries characterized by various types of governance problems. Finally, the thesis showed that the effects of remittances do not only concern the expenditure side but also the revenue side. Remittances are more likely to increase the fiscal space in receiving economies that rely on the value added tax system. In these countries, remittance inflows help increase both the level and the stability of the government tax revenue ratio (Chapter 6).
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Submitted on : Friday, July 8, 2011 - 11:39:30 AM
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  • HAL Id : tel-00606159, version 1

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Christian Hubert Ebeke. Essays on the macroeconomic consequences of remittances in developing countries. Humanities and Social Sciences. Université d'Auvergne - Clermont-Ferrand I, 2011. English. ⟨tel-00606159⟩

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