Remittances have attracted increasing attention in the international dis- course, partly owing to their magnitude and stability in the positive growth trend over the past three decades. A growing consensus is emerging that remittances constitute a significant source of external financing, whose availability, if managed through appropriate policies, could prove particu- larly valuable for capital-scarce developing countries. Though literature is still somewhat inconclusive on how remittances ultimately affect economic growth, there seems to be a general consensus on the fact that complemen- tary policies and sound institutions play an instrumental role in enhanc- ing their impact on development (World Bank, 2008; Pradhan et al., 2008; Catrinescu et al., 2009). Governments typically have only limited space to directly affect the allocation of remittance income, since taxation or man- datory remittance requirements have historically proved rather ineffective and in the majority of the cases have simply led migrants to use informal channels to remit.
CITATION STYLE
Pant, B. (2014). Uses and Impacts of Remittances in Nepal. In Migrant Remittances in South Asia (pp. 277–294). Palgrave Macmillan UK. https://doi.org/10.1057/9781137350800_13
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