{
  "title": "Macroeconomic Determinants of Remittances: Evidence from India",
  "publication": "IMF Working Papers, December 1, 2005",
  "sourceUrl": "https://www.imf.org/en/publications/wp/issues/2016/12/31/macroeconomic-determinants-of-remittances-evidence-from-india-18728",
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  "summary": "Remittances to India have been growing rapidly since 1991, making it one of the largest recipients of remittances. This paper analyzes the determinants of remittances to India and finds that their growth over time can be explained by the increase in migration and total earnings of the migrants.",
  "sections": [
    {
      "heading": "Overview",
      "content": "- Remittances to India have been growing rapidly since 1991, making India one of the largest recipients of remittances.\n- The paper analyzes determinants of remittances to India and attributes their growth over time primarily to increases in migration and total earnings of migrants.\n- Remittances are affected by the economic environment in source countries and appear to be countercyclical—higher during periods of low economic growth in India.\n- The paper finds that none of the remaining economic or political variables considered—including political uncertainty, interest rates, or exchange rate depreciation—affect remittances significantly."
    },
    {
      "heading": "Key Findings",
      "content": "- Primary drivers:\n  - Increase in migration.\n  - Increase in total earnings of migrants.\n- Cyclicality:\n  - Remittances appear countercyclical: higher during periods of low economic growth in India.\n- Non-significant factors:\n  - Political uncertainty.\n  - Interest rates.\n  - Exchange rate depreciation.\n  - Other economic or political variables tested in the paper."
    },
    {
      "heading": "Subject Areas and Keywords",
      "content": "- Subject: Capital account, Current account, Market exchange rates, Oil prices, Remittances\n- Keywords: dependent variable, India, remittance, WP\n\n---\n\n Content in this bundle\n\n- wp05224\n  - wp05224 (Markdown version){rel=\"alternate\" type=\"text/markdown\"}\n  - wp05224 (PDF){rel=\"external\" type=\"application/pdf\"}\n\n---\n\nSource: https://www.imf.org/en/publications/wp/issues/2016/12/31/macroeconomic-determinants-of-remittances-evidence-from-india-18728"
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    "Authors: Poonam Gupta",
    "Published: December 1, 2005",
    "Series: IMF Working Papers",
    "DOI: https://doi.org/10.5089/9781451862430.001",
    "Remittances to India have been growing rapidly since 1991, making India one of the largest recipients of remittances.",
    "The paper analyzes determinants of remittances to India and attributes their growth over time primarily to increases in migration and total earnings of migrants.",
    "Remittances are affected by the economic environment in source countries and appear to be countercyclical—higher during periods of low economic growth in India.",
    "The paper finds that none of the remaining economic or political variables considered—including political uncertainty, interest rates, or exchange rate depreciation—affect remittances significantly.",
    "Primary drivers:",
    "Cyclicality:",
    "Non-significant factors:",
    "Subject: Capital account, Current account, Market exchange rates, Oil prices, Remittances",
    "Keywords: dependent variable, India, remittance, WP",
    "**_wp05224**"
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