Remittance Is the Source of Productivity Improvement

• Activity Number: 82
• Type: Contributed
• Date/Time: Sunday, August 3, 2014 : 4:00 PM to 5:50 PM
• Sponsor: Social Statistics Section
• Author(s): Mohammad Quasem*+
• Companies: Howard University
• Keywords: Remittance ; Productivity Improvement ; Foreign Development Aid ; Foreign Investment ; Declining Poverty ; Household Income

Abstract

Over the last two decades it has been found that remittance is an important household income in many developed and under developed countries. Global remittance money grows three times than foreign investment and foreign development aid. In his study, Jason found, that countries which received remittance experienced declining poverty with income inequality. 65 countries received more remittance money than foreign investment and foreign development aid combined. Remittance money has been used to cover trade deficit, balance payment, educational development, repayment of loan, food and clothing, real estate development, investment in business, agricultural material purchase, relocate family members for better opportunities. In this study remittance earning countries overall productivity development will be examined.