Foreign Remittances in Pakistan
Table of Contents
Executive Summary: 3
Introduction 4 Modes of Transferring Remittances 5 Importance 5 Impact of Remittances on an Economic Insecurity 6 Economic cycle 7 Natural Disasters 7 Policy Implications 8
FORIEGN REMITTANCES TO PAKISTAN 9 Fluctuation In Remittances 10
Detailed Analysis and Impact of Foreign Remittances 12 Findings of Different Analyst on Foreign Remittances 13 Skilled and Unskilled Labor 15 Remittances and Migration in Pakistan 17 Remittances 17 Migration 19 Methods Transferring Remittances 22 Welfare Programs of the Overseas Pakistanis Foundation 23 Recommendations for Optimizing Migration 24
FOREIGN REMITTANCES IN INDIA 25 Importance on Indian economy 25 Historical Perspective on Migration and Remittances to Indian Economy 28 India’s fiscal Development 29 Trends in Remittances: The Quantum Jump in the Globalization Era 31 Remittances as a source of external development finance 35 Remittances and its significance with macroeconomic variables 37 Remittances and Balance of trade (BOP) 37 Remittances and Exchange Rate 38 Some Regulatory aspect regarding Remittances 39 Long-term Sustainability of Remittance at these High Levels 40 India Diaspora Abroad & Government’s Special Treatment to Them 41 India to see highest foreign remittances in 2011 42 Recent trends of different economies to hit as foreign remittances will dry up 42
COMPARTIVE ANALYSIS 45 Trends of remittances in Pakistan and India collectively 45
Conclusion 51
Executive Summary:
The main objective of this term paper is to help colleagues understand the term remittances and its impact on various macroeconomics and development aspects for the Pakistan and Indian economy and share the knowledge. There are different sources from which the whole data is collected, graphs and charts are shown to look at different trends in flow of remittances. For this, the data regarding remittances and some of the macroeconomic
Executive Summary: 3
Introduction 4 Modes of Transferring Remittances 5 Importance 5 Impact of Remittances on an Economic Insecurity 6 Economic cycle 7 Natural Disasters 7 Policy Implications 8
FORIEGN REMITTANCES TO PAKISTAN 9 Fluctuation In Remittances 10
Detailed Analysis and Impact of Foreign Remittances 12 Findings of Different Analyst on Foreign Remittances 13 Skilled and Unskilled Labor 15 Remittances and Migration in Pakistan 17 Remittances 17 Migration 19 Methods Transferring Remittances 22 Welfare Programs of the Overseas Pakistanis Foundation 23 Recommendations for Optimizing Migration 24
FOREIGN REMITTANCES IN INDIA 25 Importance on Indian economy 25 Historical Perspective on Migration and Remittances to Indian Economy 28 India’s fiscal Development 29 Trends in Remittances: The Quantum Jump in the Globalization Era 31 Remittances as a source of external development finance 35 Remittances and its significance with macroeconomic variables 37 Remittances and Balance of trade (BOP) 37 Remittances and Exchange Rate 38 Some Regulatory aspect regarding Remittances 39 Long-term Sustainability of Remittance at these High Levels 40 India Diaspora Abroad & Government’s Special Treatment to Them 41 India to see highest foreign remittances in 2011 42 Recent trends of different economies to hit as foreign remittances will dry up 42
COMPARTIVE ANALYSIS 45 Trends of remittances in Pakistan and India collectively 45
Conclusion 51
Executive Summary:
The main objective of this term paper is to help colleagues understand the term remittances and its impact on various macroeconomics and development aspects for the Pakistan and Indian economy and share the knowledge. There are different sources from which the whole data is collected, graphs and charts are shown to look at different trends in flow of remittances. For this, the data regarding remittances and some of the macroeconomic
References: Reserve bank of India (RBI) in ‘Handbook of Statistics on Indian Economy’ (The RBI’s data on private transfers are available for the period 1990- 2008) ‘IMF’s Balance of Payment Statistics’ (IMF’s data are available for 1975-2008)