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  • 1
    UID:
    edocfu_9958065655002883
    Format: 1 online resource (23 p.)
    ISBN: 1-4755-2964-3 , 1-4755-2506-0
    Series Statement: IMF working paper ; WP/12/290
    Content: This paper applies the work of Berg and Ostry (2011) to the SACU region, to identify how inequalities have played a role in growth in each of these countries, and elaborates policy options to mitigate the effects of inequalities and foster growth. Lower income inequalities could lead to significant gains, as SACU countries could almost double the duration of their growth periods, with much lower inequalities. While reducing inequalities may be desirable, the design of policies to achieve such objective is not trivial. Policies targeting income inequalities at the sources are expected to be the most effective to reduce inequalities and promote growth. However, direct redistribution, if carefully crafted can also be very effective in reducing inequalities while limiting its potentially negative impact on growth.
    Note: Description based upon print version of record. , Cover; Contents; I. Introduction; II. Challenges with Sustained Growth Periods; III. Analyzing Growth and Inequalities Within SACU; Figures; 1. Effect of Increase of Different Factors on Growth Spell Duration; 2. Average GDP per Capita Growth Rate, 2000-10; Tables; 1. Contributing Factors to the End of Growth Spells in the SACU Region; IV. Lowering Inequalities to Increase Growth Performances?; A. Potential Gains From Lower Inequalities; 3. Comparing Gini Coefficients Between SACU countries; B. Reducing Inequalities to Strengthen Growth Performances , 2. Comparative Impact of Income Inequalities on Growth Spell Duration3. Highest HIV/AIDS Prevalence Rates in the World, 2009; V. Conclusion; References; Appendix I; Appendix II , English
    Additional Edition: ISBN 1-4755-1517-0
    Additional Edition: ISBN 1-61635-938-2
    Language: English
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  • 2
    UID:
    edoccha_9960971465302883
    Format: 1 online resource (29 pages)
    ISBN: 979-84-00-22808-7
    Series Statement: IMF Working Papers
    Content: This paper investigates factors that predict variation in digital and non-digital remittance fees over time and across countries, exploring differences between CAPDR and other regions. The paper fills a void in the literature on how country- and corridor-specific factors relate to remittance fees at different levels of digitalization of the transaction mode. It also complements stylized facts and regression analysis with a survey analysis of the CAPDR authorities’ views on the latest developments, possibilities, and risks related to digital remittances with a view to gauging the authorities’ potential role in further reducing the cost of cross-border payments more generally and remittances fees in particular. The paper finds a clear trend of declining remittance fees across countries and at any level of digitalization, albeit they remain higher for CAPDR countries relative to non-CAPDR countries. More competition, financial and digital development in receiving countries—such as debit/credit card ownership or bank branch penetration—are associated with lower remittance fees, especially in CAPDR. The surveyed authorities actively explore the use of digital money to advance domestic payment systems, expedite financial inclusion, and lower remittances fees, yet see considerable risks, especially for preserving monetary sovereignty in CAPDR.
    Additional Edition: ISBN 979-84-00-22709-7
    Language: English
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  • 3
    Online Resource
    Online Resource
    Washington, D.C. :International Monetary Fund,
    UID:
    edoccha_9961030631202883
    Format: 1 online resource (36 pages)
    ISBN: 979-84-00-23185-8
    Series Statement: IMF Working Papers
    Content: Undocumented migration from the Northern Triangle countries (El Salvador, Guatemala and Honduras) to the United States has been steadily increasing over the past 30 years, accelerating at times. The paper investigates what factors could explain this fact, by estimating an investment decision model, using annual data over 1990-2019. Economic labor market conditions (real wages and unemployment rates, especially in the U.S.) play a major role in explaining undocumented migration. Less explored drivers of undocumented migration tied to living conditions at home also explain well undocumented migration (natural disasters, coffee production, higher temperatures, and homicide rates). Tighter border enforcement measures act as a deterrent, and perceptions regarding changes of these measures could also drive up undocumented migration at times. Policies that address the root causes of migration at home, including with the U.S. help, are essential in reducing the difference between perceived benefits and expected costs of migration.
    Additional Edition: ISBN 979-84-00-23203-9
    Language: English
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  • 4
    UID:
    edocfu_9960848111502883
    Format: 1 online resource (32 pages)
    ISBN: 979-84-00-20992-5
    Series Statement: IMF Working Papers
    Content: Traditional models relying on standard variables like the U.S. Hispanic unemployment rate fared well in explaining remittances to CAPDR and Mexico during the pre-pandemic period. However, they fail to predict the sustained growth in remittances since June 2020, including the significant increase in the average amount remitted. Using data from over 300 remittances corridors (from 23 U.S. states to 14 Salvadoran departments), we find that this increase is primarily explained by the dynamics of U.S. states real wages, as well as more temporary factors like U.S. unemployment relief (including the extraordinary pandemic support), U.S. states mobility, and COVID-19 infections at home. The paper also analyses what role the change in the modes of transmission of remittances, additional U.S. fiscal stimulus and U.S. labor market developments, especially in the sectors were CAPDR and Mexican migrants preponderantly work, play in explaining aggregate remittances growth.
    Additional Edition: ISBN 979-84-00-21015-0
    Language: English
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  • 5
    UID:
    edoccha_9960848111502883
    Format: 1 online resource (32 pages)
    ISBN: 979-84-00-20992-5
    Series Statement: IMF Working Papers
    Content: Traditional models relying on standard variables like the U.S. Hispanic unemployment rate fared well in explaining remittances to CAPDR and Mexico during the pre-pandemic period. However, they fail to predict the sustained growth in remittances since June 2020, including the significant increase in the average amount remitted. Using data from over 300 remittances corridors (from 23 U.S. states to 14 Salvadoran departments), we find that this increase is primarily explained by the dynamics of U.S. states real wages, as well as more temporary factors like U.S. unemployment relief (including the extraordinary pandemic support), U.S. states mobility, and COVID-19 infections at home. The paper also analyses what role the change in the modes of transmission of remittances, additional U.S. fiscal stimulus and U.S. labor market developments, especially in the sectors were CAPDR and Mexican migrants preponderantly work, play in explaining aggregate remittances growth.
    Additional Edition: ISBN 979-84-00-21015-0
    Language: English
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  • 6
    UID:
    edocfu_9960971465302883
    Format: 1 online resource (29 pages)
    ISBN: 979-84-00-22808-7
    Series Statement: IMF Working Papers
    Content: This paper investigates factors that predict variation in digital and non-digital remittance fees over time and across countries, exploring differences between CAPDR and other regions. The paper fills a void in the literature on how country- and corridor-specific factors relate to remittance fees at different levels of digitalization of the transaction mode. It also complements stylized facts and regression analysis with a survey analysis of the CAPDR authorities’ views on the latest developments, possibilities, and risks related to digital remittances with a view to gauging the authorities’ potential role in further reducing the cost of cross-border payments more generally and remittances fees in particular. The paper finds a clear trend of declining remittance fees across countries and at any level of digitalization, albeit they remain higher for CAPDR countries relative to non-CAPDR countries. More competition, financial and digital development in receiving countries—such as debit/credit card ownership or bank branch penetration—are associated with lower remittance fees, especially in CAPDR. The surveyed authorities actively explore the use of digital money to advance domestic payment systems, expedite financial inclusion, and lower remittances fees, yet see considerable risks, especially for preserving monetary sovereignty in CAPDR.
    Additional Edition: ISBN 979-84-00-22709-7
    Language: English
    Library Location Call Number Volume/Issue/Year Availability
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  • 7
    Online Resource
    Online Resource
    Washington, D.C. :International Monetary Fund,
    UID:
    edocfu_9961030631202883
    Format: 1 online resource (36 pages)
    ISBN: 979-84-00-23185-8
    Series Statement: IMF Working Papers
    Content: Undocumented migration from the Northern Triangle countries (El Salvador, Guatemala and Honduras) to the United States has been steadily increasing over the past 30 years, accelerating at times. The paper investigates what factors could explain this fact, by estimating an investment decision model, using annual data over 1990-2019. Economic labor market conditions (real wages and unemployment rates, especially in the U.S.) play a major role in explaining undocumented migration. Less explored drivers of undocumented migration tied to living conditions at home also explain well undocumented migration (natural disasters, coffee production, higher temperatures, and homicide rates). Tighter border enforcement measures act as a deterrent, and perceptions regarding changes of these measures could also drive up undocumented migration at times. Policies that address the root causes of migration at home, including with the U.S. help, are essential in reducing the difference between perceived benefits and expected costs of migration.
    Additional Edition: ISBN 979-84-00-23203-9
    Language: English
    Library Location Call Number Volume/Issue/Year Availability
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  • 8
    UID:
    edocfu_9960178584402883
    Format: 1 online resource (52 pages)
    ISBN: 1-5135-8781-1
    Series Statement: IMF Working Papers
    Content: This paper analyzes the potential for fintech to facilitate cheaper and more efficient remittances, and to enhance financial inclusion in Central America. Digital remittances remain nascent in the region, primarily reflecting behavioral inertia, small cost advantages of digital over traditional channels, and inadequate financial literacy. Through expanded alliances between traditional and fintech operators, digital remittances can further reduce transaction costs and reach those remote, low-income households in a timely and secure manner. A meaningful expansion of fintech remittances necessitates an enabling regulatory environment for digital financial services, and KYC and AML/CFT requirements proportionate to the value of transfers.
    Additional Edition: ISBN 1-5135-8542-8
    Language: English
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  • 9
    UID:
    edoccha_9960178584402883
    Format: 1 online resource (52 pages)
    ISBN: 1-5135-8781-1
    Series Statement: IMF Working Papers
    Content: This paper analyzes the potential for fintech to facilitate cheaper and more efficient remittances, and to enhance financial inclusion in Central America. Digital remittances remain nascent in the region, primarily reflecting behavioral inertia, small cost advantages of digital over traditional channels, and inadequate financial literacy. Through expanded alliances between traditional and fintech operators, digital remittances can further reduce transaction costs and reach those remote, low-income households in a timely and secure manner. A meaningful expansion of fintech remittances necessitates an enabling regulatory environment for digital financial services, and KYC and AML/CFT requirements proportionate to the value of transfers.
    Additional Edition: ISBN 1-5135-8542-8
    Language: English
    Library Location Call Number Volume/Issue/Year Availability
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  • 10
    UID:
    edocfu_9958099911502883
    Format: 1 online resource (40 p.)
    ISBN: 1-4755-8067-3 , 1-4755-2054-9 , 1-4755-8111-4
    Series Statement: IMF Working Papers
    Content: The World Bank and the IMF have adopted a debt sustainability framework (DSF) to evaluate the risk of debt distress in Low Income Countries (LICs). At the core of the DSF are empirically-based thresholds for each of five different measures of the debt burden (the “debt threshold approach” DTA). The DSF contains a rule for aggregating the information contained in these five different variables which we label the “worst-case aggregator” (WCA) in view of the fact that the DSF considers a breach of any one of the thresholds sufficient to indicate a high risk of debt distress. However, neither the DTA nor the WCA has heretofore been subject to empirical testing. We find that: (1) the DTA loses information relative to a simple proposed alternative; (2) the WCA is too conservative (predicting crises too often) in terms of the loss function used in the DSF; and (3) the WCA is less accurate than some simple proposed alternative aggregators as a predictor of debt distress.
    Note: Description based upon print version of record. , Cover; Contents; 1. Introduction; 2. Related Literature; 3. The Debt Sustainability Framework; 3.1 Goodness-of-fit; 3.2 Limitations of the DSF; 4. The DSF Method of Aggregation; 4.1 Bias; 4.2 Accuracy; 5. The Probability Threshold Approach; 6. How to Aggregate the Debt Indicators; 6.1 Equal Weights; 6.2 Multivariate Probit; 6.3 More Parsimonious Data-Based Models; 6.3.1 Step-wise models; 6.3.2 Equal-Weight-Prior; 6.4 Summary on model selection; 7. Revisiting the loss Function; 8. Discussion and Conclusions , English
    Additional Edition: ISBN 1-4755-7977-2
    Additional Edition: ISBN 1-306-67433-6
    Language: English
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